Foxconn Investing $8.8 in China

Apple supplier Foxconn Technology's shares were higher on Friday following news that it will invest $8.8 billion to build a factory in China.

Author:: Anders Keitz
Publish date:: Dec 30, 2016 11:46 AM EST

Apple (AAPL) - Get Report supplier Foxconn Technology (FXCOF) American shares were higher on Friday following news that it will invest $8.8 billion to build a factory in China. The new factory will make LCD displays and is expected to be operational in 2019. Foxconn says the plant will have an annual production value of more than $13 billion. The big investment is aimed at increasing production to meet expected rising demand for large-screen televisions and monitors in Asia, Reutersreported.

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