FOXCONN'S TV worries, news by Hebei Longsheng metals and minerals co., ltd.
| Foxconn's TV worries in are not just a Wisconsin issue Foxconn may repurpose its investment in Racine County, WI as an R&D center rather than an LCD panel factory. CEO Terry Gou has stated that "In terms of TV, we have no place in the U.S. We can’t compete." That could change if U.S. tariffs on Chinese exports, which accounted for 68.9% of U.S. TVs, monitors and panels in 2018, are introduced. Increased tariffs are conditional on current trade talks failing, which U.S. TV importers may have anticipated with a 24.2% year over year jump in U.S. imports from China in 4Q 2018. Foxconn may already be falling behind its competitors, including TPV Electronics, Qisda Corp. and Wistron, given its shipments from China fell 10.0% compared to a year earlier in 4Q. If tariffs are applied it would also lose ground to exporters from Mexico including LG Electronics, whose shipments to the U.S. climbed 11.6% year over year in 4Q, as well as Samsung Electronics and Sony. |
