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The move is said to carry the potential of bringing over $20 billion in revenue to the U.S.
Toshiba had previously said a Japanese group was in the lead position for the sale.
Wisconsin gave Foxconn a $3 billion incentive package to lure its plant to the state.
The move follows Foxconn's announcement that it would bring a $10 billion plant to Wisconsin.
The Taiwanese company is doubling down on U.S. investment almost two weeks after it announced plans for a $10 billion plant in Wisconsin.
Foxconn is reportedly set to unveil plans to build a multibillion dollar facility in Michigan
Last week, Apple iPhone maker Foxconn announced that it was bringing a $10 billion manufacturing plant in Wisconsin.
Apple supplier Foxconn is building a facility in Wisconsin months after announcing a $7 billion investment in the U.S.
Apple has not confirmed the three plants, but its supplier Foxconn could make a big jobs announcement on Wednesday afternoon.
Apple is under pressure from President Donald Trump to move some of its iPhone manufacturing to the U.S.
Foxconn Technology attempts to manage expectations about its U.S. investment
The actual amount of investment will depend on local government, Foxconn says.
Foxconn is building a facility in Wisconsin months after announcing a $7 billion investment in the U.S.
President Donald Trump and Wisconsin Governor Scott Walker will join Foxconn in announcing plans for the new plant.
Toshiba has been trying to sell the unit to cover losses from its bankrupt U.S. business Westinghouse.
Foxconn is reviewing locations to build facilities to manufacture display panels.
Yield rates at design manufacturers haven't reached levels that suggest mass production.
Wisconsin State Assembly leaders mentioned the plant in a letter this week.
Toshiba chose Bain Capital and Japanese government investors to sell the unit to.
Foxconn's new plant could employ thousands of people.
Taiwanese Apple iPhone manufacturer Wistron confirmed both wireless charging and waterproof capabilities in the new iPhone.
The new Essential has an innovative design and accessories.
'Several supply chain reports have suggested that key component shortages and technical challenges could delay the release of a high-end iPhone 8 this fall,' Deutsche Bank wrote.
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