Foxconn Technology Group, which mainly manufactures iPhone and other electronic devices for Apple, has said that the company is looking to expand its manufacturing plants in the United States.
The statement is believed to be given after the president-elect Donald Trump idea of increasing taxes on products manufactured outside the US.
An expert said, “if it happens, then the price of same iPhone would increase heavily”.
But Foxconn Group is now planning to expand its manufacturing business to the United States as well.
The spokesperson of the company said on Wednesday “we are looking forward and planning to expand our manufacturing business to the US. At present time, the plan is under process, but soon we would come to a certain decision.”
Foxconn is basically an electronic devices manufacturing company, which supplies products to several giant companies like Apple, BlackBerry, Sony etc.
Not only this, the company has recently been investing in several other fields including robotics, e-commerce, consumer tech startups and health care.
The Taiwanese Electronics Manufacturer has come up with this statement after the meeting of Chief Executive of Japan’s SoftBank Group Corp, Masayoshi Son, with the president-elect Donald Trump in New York.
Reports say that the SoftBank Group has planned to invest more than $50 Billion in the United States in near future.
Terry Gou, Foxconn Chairman, and the Masayoshi Son, are said to be friends for a very long time and hence few experts believe that the statement from the Foxconn could be inspired by the SoftBank deal with the US.
An Analysts said on this move that iPhone manufacturing business wouldn’t be feasible in the US because labor cost here is far high and the US also lacks the integrated supply chain that China has.