Taiwanese billionaire Terry Gou, founder of the world’s biggest OEM supplier, Foxconn, has a lot on his plate. His biggest customer, Apple, has seen its smartphone share plunge in China, and he’s been making a public fuss about entering the presidential race back home. Still, headlines today suggesting that he wants to sell out of his biggest investment to date, a new RMB 60 billion factory in Guangzhou, within days of it opening, are undoubtedly turning heads in the provincial capital.
According to Caixin Global, the project’s owners are in talks with Huizhou-based TCL and others to see if they can sell the factory. The single-largest investment in Guangzhou’s Zengcheng district held a ceremony just last week marking the start of official production.
It’s unclear at the moment why Gou would consider selling. Home-appliance industry analyst Liu Buchen said that the overcapacity in China’s LCD panel design and manufacturing might be one reason.