Foxconn is considering a $7 billion joint investment with Apple that could create 50,000 jobs in the United States. With the surging demands for better displays, putting up a factory in the US may be in the company's plans.

Terry Gou, the chairman of Foxconn, said that since the demand for larger display panels has increased in the United States, it is a good decision to set up a factory locally instead of shipping its products from China. Aside from the display facility, Foxconn might also be planning to create a molding facility in the state of Pennsylvania.

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Display technologies are in-demand. Apple's next line of products is expected to use OLED (organic light emitting diodes). The technology is much harder to make compared to the traditional LED screens, having absolute black and vivid contrast features.

Aside from large displays such as televisions and computer monitors, phone technologies are expected to use OLED displays starting next year following the trend Samsung started with its Galaxy series.

A Foxconn-controlled startup based in Canada called Smart Technologies may also be involved in the deal as US President Donald Trump has signaled the possible renegotiation of the North American Free Trade Agreement.

Foxconn's facility produces more than 100 million iPhones yearly in Zhengzhou, China. China is also responsible for over 19 percent of Apple's global revenue, making the country an ideal location to maintain a working facility.

In addition to that, Foxconn intends to build another facility in the Chinese city of Shenzen. This will be built next to Apple's planned research and development center.