Asia Express - Display
Foxconn to Inject US$4.4 Bln in Optoelectronics Project in Xiamen
May 21, 2009
Taiwan-based Foxconn Technology Group plans to inject around 30 billion RMB (US$4.4 billion; US$1=6.8 RMB) to expand its optoelectronics operations in Xiamen, China, according to a Chinese-language China Times report on May 20, 2009. With the 30 billion RMB investment, Foxconn expects to create an optoelectronics industry cluster in the Haicang Investment Zone of Xiamen. Innolux Display, the LCD (Liquid Crystal Display) panel manufacturing unit of Foxconn, has set up two subsidiaries - including Innocom Technology - in Xiamen to support its LCD TV assembly business as well as 6G and newer-generation LCD panel production lines. Thus far, Innolux has spent an initial amount of US$55 million on its Xiamen operations, including the establishment of an LCM (LCD Module) production facility in 2008. It is reported that Innocom has begun large-scale recruitment in Xiamen.