What you need to know
- Foxconn says demand for the iPhone 12 has been strong.
- The iPhone maker said it also plans to continue investing in the United States.
- The announcement comes despite a failed attempt to build a factory in Wisconsin, which didn't create enough jobs to earn tax credits last year.
A new report says that Foxconn is seeing "strong" demand for the iPhone 12 as we move into the holiday season.
Apple supplier Foxconn forecast strong demand for the new iPhone 12 in the holiday quarter and stressed that it would continue investing in the United States as scheduled and is looking at making new products there.
It was estimated following the iPhone 12 announcement that Apple could ship as many as 80 million devices this year, but that demand won't peak until the first quarter of 2021. Foxconn's encouraging comments seem to reflect this sentiment.
The report mainly focuses on Foxconn's attempt to invest $10 billion in building a plant in the state of Wisconsin. Foxconn says it plans to continue investing in the U.S. and hopes to build new products there despite the debacle:
Foxconn's planned $10 billion investment in the U.S. state of Wisconsin did not create enough jobs in 2019 to earn tax credits, the state government said last month, the second year the company missed targets touted by President Donald Trump as a major economic win.
For many, the factory has become a symbol of failed promises in Midwestern states that were key to Trump's 2016 election but flipped to Democrat Joe Biden last week.
The report notes that Foxconn says its investment plan "did not depend" on who the U.S. president was and that it would continue to push forward in the state "as planned."