Foxconn agreed to buy Sharp Corporation for $3.5 billion
The deal, for a 66 percent stake in Sharp, is intended to make Foxconn a more attractive partner for Apple Inc. that uses Sharp screens for its iPhones.
Taiwan’s Foxconn Technology Group on 30 March 2016 announced that it will acquire Japan’s Sharp Corporation for 3.5 billion US dollars.
The deal, for a 66 percent stake in Sharp, is intended to make Foxconn a more attractive partner for Apple Inc.
The American technology company uses Sharp screens, which could give Foxconn added leverage in dealings between the two.
About Foxconn Technology Group
• It is formally known as Hon Hai Precision Industry Co. Ltd.
• It is a Taiwanese multinational electronics contract manufacturing company headquartered in Tucheng, New Taipei
• It is the world's largest electronics contractor manufacturer and the third-largest information technology company by revenue.
• It is primarily a contract manufacturer and its clients include major Chinese, American, Finnish, Japanese, and Canadian electronics and information technology companies.
• Notable products that the company manufactures include the BlackBerry, iPad, iPhone, Kindle, PlayStation 4, PlayStation 3, Xbox One, Nokia and Wii U.
About Sharp Corporation
• It is a Japanese multinational corporation that designs and manufactures electronic products.
• It was founded in September 1912 and takes its name from one of its founder’s first inventions, the Ever-Sharp mechanical pencil, which was invented by Tokuji Hayakawa in 1915.
• As of 2013, Sharp Corporation is the tenth-largest television manufacturer in the world by market share.
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