Taiwan-based Foxconn Technology Group aims to build an $8.8 billion television flat-panel factory in China's south-eastern city of Guangzhou. The new plant will manufacture advanced liquid-crystal displays (LCDs) that will be outsourced from Sharp Corp, a Japanese electronics brand acquired by Foxconn this year.

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Foxconn signed an agreement for the plant with local officials of Guangzhou on Friday. The Taiwanese electronic giant said that the factory will become operational in 2019. It will manufacture 10.5-generation 8K displays, smart TVs, and electronic whiteboards.

Foxconn expects Guangzhou factory to play a key role in meeting the rising demands for large-screen televisions and monitors across Asia in the coming years.

The global LCD production took a major hit this year by the sudden closure of Samsung plant that contributed nearly 3 percent to the global production, as well as due to production stoppage across Taiwanese factories due to an earthquake earlier this year.

However, China's domestic LCD panel makers like BOE Technology and Shenzhen China Optoelectronics are still adamant about their expansion plans. BOE Technology already started the construction of its own Gen-10.5 factory in Hefei in December last year, while Shenzhen China announced that it will soon start the construction of its LCD panel factory in Shenzhen city.

The $8.8 billion Guangzhou factory will further consolidate Foxconn's investment in China. The Taiwanese electronic giant is already operating several factories across China that produces many electronic products including Apple iPhones.   

Apparently, the current tension in cross-strait relation has had little impact on Foxconn's investment plan in China.  

TagsFoxconn, Guangzhou, Foxconn China, china, Foxconn Factories in China