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Published: Fri, December 09, 2016
Economy | By Melissa Porter

Apple supplier Foxconn may increase US jobs


One of the promises made by United States President-elect Donald Trump during his campaign was that more domestic manufacturers would start building their products locally, naming Apple as one of the companies that should make the iPhone in the States.

WSJ: SoftBank CEO Confirms Investments Will Come From Existing Fund That Predates Trump.

Shares of Sprint rose 1.5 percent and T-Mobile climbed 1.8 percent on speculation Son's pledges could aid an eventual deal. The money will come from SoftBank's $100 billion technology fund, which was announced in October before Trump's victory, according to a person familiar with the matter. His news was delivered in the lobby of Trump Tower in Manhattan, following a meeting with the president-elect.

The carrier's attempt to join with rival T-Mobile failed in 2014 after regulators objected to combining two of the four largest mobile telecom companies in the United States. The Nikkei Asian Review previously reported that Foxconn, a key supplier to the technology giant, was considering moving some operations to the U.S. Productivity can be raised with robotics and cloud technology, boosting competitiveness there, Gou told Chinese media November 17. Trump tweeted Tuesday. "Masa said he would never do this had we (Trump) not won the election!"

Analysts also speculated the deal could be an effort to smooth the way for other investments in the U.S.in the future, and specifically ward off the suspicion that sometimes surrounds foreign investment.

A SoftBank spokeswoman said the company did not have any comment other than Son's own words.

U.S. President-elect Donald Trump, left, shakes hands with Son Masayoshi, chief executive officer and founder of SoftBank Group Corp., while speaking to members of the media in the lobby at Trump Tower in NY, U.S., on Tuesday, Dec. 6, 2016.

"If we develop poorly and our share price falls significantly I expect that Foxconn will do a full takeover", weekly magazine WirtschaftsWoche quoted Hannes Niederhauser as saying in an interview in its BoersenWoche newsletter.

Foxconn has talked in the past of increasing its USA presence to meet the needs of its American customers.

During the brief session with Trump, Son held up a printout of a presentation that highlighted $50 billion and 50,000 jobs.

Matthew Mitchell, a senior research fellow at the libertarian Mercatus Center, says it's unclear what direct benefits SoftBank may receive from the Trump administration, if anything.

The company declined to provide updated information Wednesday on what operations it now has in the US or where things stand with the Pennsylvania project. "I said this is great".

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