The outfit, which got rich by running factories in China using mass cheap labour, is changing tactics, as Chinese labour is not cheap any more.
Foxconn chairman Terry Gou said the the plan will be approved by the third quarter, and Foxconn is evaluating suitable locations for its new plants. Potential candidates are Ohio, Pennsylvania, Michigan, Illinois, Wisconsin, Indiana and Texas.
Gou expects "the Flying Eagle" project to grow in scale and contribute a major portion of Foxconn’s revenues.
For future trends, Gou also noted that the market will enter an era of Big Data, 8K resolution images and 5G communications. The market will also separate into eight smart life segments: work, education, entertainment, home and social activities, security, healthcare, asset transaction and purchasing, and eco-automotive. Foxconn will push applications for all eight major segments.
Foxconn will become a major provider of an industrial IoT platform separated into six sub-platforms: industrial Big Data, smart manufacturing, cloud computing smart applications, data security and management, smart supply chain and Blockchain finance, said Gou adding that Foxconn will bring all these important industry trends to the US.
Foxconn will not only build factories, but is planning to take the whole supply chain to the country and establish front-to-back solutions. Therefore, Foxconn will bring all its latest manufacturing technologies for applications such as AI, IoT and machine-to-machine to its US production sites.