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Foxconn JV to invest $8.8 billion in new LCD plant in China

Staff Writer |
A joint venture of Hon Hai Precision Industries, known as Foxconn, and Sharp plans to invest 61 billion yuan ($8.8 billion) to build a new factory in China to produce liquid-crystal displays (LCDs).

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Sakai Display Products will build the factory in the southern Chinese city of Guangzhou.

Taiwan’s Hon Hai Precision Industry and and Sharp said earlier in December they are considering building a new plant in China to produce liquid crystal display (LCD) panels for televisions, sources familiar with the matter said.

As TVs in Asia shift from cathode ray tubes technology to LCDs, the companies see China and Southeast Asia as their target market, they said.

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