Taiwanese technology giant Foxconn's Technology Group, which assembles Apple Inc.'s iPhones, is nearing a decision to invest in Wisconsin for producing display panels, the Wall Street Journal reported, citing people familiar with the matter. The company is said to hold an event in Washington, D.C., as soon as this week to discuss U.S. investment plans.
In Wisconsin, the company is looking at producing display panels that can be used in large-screen televisions, the report said. Foxconn is also looking in the Detroit area for a possible plant.
Foxconn, formally known as Hon Hai Precision Industry Co., was one of the first companies to announce plans to invest billions to help create jobs a month after Donald Trump was elected president. Foxconn was said to evaluate potential locations and discussing options with government officials in the United States.
As per the WSJ report, Foxconn, which makes the iPhone for Apple and Xbox for Microsoft, has said publicly that it is looking at seven states in the U.S., where it would invest a total of $10 billion or more to manufacture flat-panel screens and related equipment.
In June, a company executive reportedly identified the seven as Illinois, Indiana, Michigan, Ohio, Pennsylvania, Texas and Wisconsin.
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