Foxconn Technology will invest 37.5 billion yuan (US$5.74 billion) to expand its facilities in Nanjing, China. It will become the largest smartphone assembly worldwide and a hub for research and development.

Deputy general manager Zheng Naijian signed a contract on September 12 with Nanjing’s deputy mayor Liu Yi’an. Whereby Hon Hai Precision Industry Co (Foxconn Technology) will invest in the production of liquid crystal displays, smart televisions, research and development, as well as logistics.

Read the full article Foxconn to spend US$5.7 billion in Nanjing on world’s biggest smartphone assembly hub.