CHENGDU, Jan.4 (NBD) -- Terry Guo, founder of Foxconn, expressed that the company is to invest 8.8 billion US dollars for the establishment of a TV panel plant in Guangzhou.

The new plant is expected to be put into operation in the year of 2019, with estimated annual output value of 92 billion yuan (about 13.28 billion US dollars). The products will cover smart TVs, electronic whiteboards and LCDs.

Foxconn's strategy towards the new factory signals its continuation with manufacturing in China.