caLogo

NANJING -- Foxconn Technology Group will invest more than 37.5 billion yuan ($5.74 billion) in a new smartphone factory here, according to China media.

Among the planned investments are facilities for production and R&D, the report added.

Foxconn signed the deal with the Nanjing municipal government this week, according to the report.

According to the report, which cited government documents and a local official, Foxconn also signed agreements of intent to invest 4.58 billion yuan to build a R&D center in the Yuhuatai district of Nanjing, and possibly make additional investments in an LCD TV plant.

Submit to FacebookSubmit to Google PlusSubmit to TwitterSubmit to LinkedInPrint Article
Don't have an account yet? Register Now!

Sign in to your account