The day after the CEO of Japanese telecom SoftBank promised $50 billion of new spending in the US and 50,000 jobs to boot, Taiwanese manufacturer and Apple’s biggest assembly contractor Foxconn has officially announced that it is seeking its way into expanding its US operations.
Talk of more iPhone-building operations coming to the states has been an archstone of the President-Elect Donald Trump’s rhetoric on developing American industry. Trump told The New York Times that he discussed with Apple CEO Tim Cook about setting up factories with reduced tax and regulation barriers. In a Time magazine interview where he was named its Person of the Year, he wanted Cook to build his largest facilities in the US, “even if it’s only a foot by a foot bigger than some place in China.”
In an odd twist, when SoftBank chief executive Masayoshi Son was briefing the press of his announcement yesterday, he showed off a paper that featured both SoftBank’s and Foxconn’s logos on it. The latter company’s CEO, Terry Gou, has long been a friend and financial collaborator with Son, reports The Wall Street Journal.
It is not clear how involved SoftBank is in Foxconn’s expansion, if at all, nor how much the company formally known as Hon Hai Precision Industry will invest into its US operations and what for.