Hon Hai Precision Industry Co., Ltd., better known as Taiwanese electronics manufacturer Foxconn Technology Group, is considering a joint investment with Apple to build a display production facility in the US.

The $7 billion deal would also involve Sharp, the Japanese electronics maker that Foxconn purchased a controlling stake in last year for $3.5 billion.

Gou told reporters after his company's year-end party that Apple is willing to invest in the facility because they also need display panels. The executive added that the increase in demand for larger display panels makes local production a better solution versus manufacturing units in China and exporting them to the states.

A US production site could create anywhere between 30,000 and 50,000 jobs, Gou said.

There's no guarantee of a deal at this point. Gou said a deal would depend on many factors, some of which would have to be negotiated at the state and federal levels. Investment conditions would also be considered, he added.

Apple as of writing hasn't publicly commented on the matter.

Rumors of Apple moving its iPhone production to the US have persisted for months. In November, Nikkei cited unnamed sources that said Apple had asked both Foxconn and Pegatron (another iPhone manufacturer) about moving operations to the US. Doing so, however, could cause the cost of Apple's handset to more than double, another source said.

Image courtesy Bobby Yip, Reuters