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Foxxconn to expand U.S. investment

10:37am EST - 01:09

The Taiwanese Apple supplier said Wednesday it would boost its investment in the U.S. one day after its Japanese partner Softbank pledged to invest $50 billion in the U.S. Fred Katayama reports.

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Asian tech investments heading for the U.S. Just after Softbank's CEO Masayoshi Son pledged to President-elect Donald Trump his company would invest $50 billion in the U.S., Son's close Taiwanese business partner, Foxconn, said Wednesday it's in preliminary talks to expand its U.S. operations. The Apple supplier said it hasn't yet determined how much it would invest. But CNBC reported that a snapshot of papers held by Son outlining his investment carried the logos of SoftBank and Foxconn, and that page showed an additional $7 billion investment and the creation of another 50,000 jobs. Son had pledged that his company would create 50,000 new jobs in the U.S. Trump claimed his election brought about that move. That pledge revived speculation that the company that Softbank controls, Sprint, might restart merger talks with T-Mobile US. The two companies had dropped their merger talks after they faced pressure from regulators. Shares of Foxconn rose nearly 1 percent. Softbank finished more than 6 percent higher.

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Foxxconn to expand U.S. investment

10:37am EST - 01:09