Sharp has announced a strategic partnership with a corporation Hon Hai Group. In accordance with the cooperative agreement, the four corporate subsidiaries acquired 9.88% stake in Sharp, so that Hon Hai Group has become the largest shareholder in the Japanese company.
In a press release reported that Hon Hai Precision Industry (Foxconn), which is a key company Hon Hai Group, has won 46.5% of the share capital of Sharp Display Products (SDP) – a joint venture Sharp and Sony. The size of Sharp in the joint venture is now 46.5%, Sony is still 7% of the authorized fund SDP.
According to the Wall Street Journal, the acquisition cost of shares Sharp Hon Hai Group in a $ 808 million due to weak demand for TVs currently unprofitable joint venture of SDP, is engaged in the production of LCD panels will focus on manufacturing panel sizes for smaller smartphone and laptop. Learn more – read this!
Manual Sharp hopes to revive with Foxconn experiencing declining production plant of LCD panels in Sakai. Up to this point the main problem for Sharp has been the lack of adequate demand for LCD products. By the end of the year, as expected, Foxconn will consume about half produced by the LCD panels.
There is no doubt that strengthening cooperation between the two companies are also interested in the company Apple, as Foxconn is the largest of its contractual partner, Sharp – the largest supplier of LCD panels for such mobile devices, including iPhone and the iPad.