The commercial war forced Foxconn to sell one of its new $ 8.8 billion LCD displays

The commercial war forced Foxconn to sell one of its new $ 8.8 billion LCD displays

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Foxconn has begun looking for a buyer for a new manufacturing plant in China. The plant specializes in display design and will cost its future buyer at least $ 8.8 billion.

The reason is the decline in demand for these types of products, caused by the ongoing trade war between China and the United States. Located in the south of the country in Guangzhou, the facility produces LCD displays.

The company has already established contacts with investors and large banks to accelerate sales. The data comes from two independent sources, reports Reuters.

In recent weeks, Foxconn has been looking for ways to adapt to the changing conditions of the industry as well as to work with numerous US business clients in the long run. The biggest of these is Apple, with Foxconn continuing to execute most of the tech giant’s orders.

However, it will take some time before such a transaction is completed. Negotiations on the sale of the Gen 10.5 factory for LCD displays are still in the early stages.

The US government has already announced that it is introducing new customs duties on Chinese goods, which enter the country on September 1. All of these unexpected US-China trade war measures are causing more problems for Foxconn and other manufacturers in the region.

The commercial war forced Foxconn to sell one of its new $ 8.8 billion LCD displays

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