The world’s largest contract manufacturer Foxconn is allegedly aiming to acquire board seat at Sharp, a report out from Asia claims.
Foxconn in May acquired aneleven percentownership stake in Sharp in exchange for $844 million. It also bought a 46.48 percent stake in Sharp’s sister company Sharp Display which makes display panels for iPad 3 and isthought to be readyingbig-ass IGZO panels for a rumored full-blowntelevision set from Apple…
Ninelu Tu, reporting forDigiTimesfrom Taipei:
Foxconn Electronics (Hon Hai Precision Industry), after receiving three board seats in Sharp Display Product (SDP) on July 17, is now reportedly aiming to acquire seats in SDP’s parent company, Japan-based panel maker Sharp with the two companies reportedly already in negotiations.
The three boards as a result of the Sharp acquisition are non-executive so no wonder Foxconn now wants more influence over decision making process in Sharp’s boardroom.
Foxconn CEOTerry Gou made publichis intentions that with the Sharp deal his company is looking to beat Samsung Display on clearness.
Foxconn, currentlygearing up for iPhone 5 manufacturing, is also looking toautomate manufacturing with advanced robotsand is planninganother factory in Indonesiaworth an estimated $1 billion.
It also operates plants in Brazil that should beginchurning out iPads soon, though these plans could be now on hold due todisagreements with the local governmentover investment projects and technology imports into the country.
If you believe the rumor-mill, all of Foxconn’s recent moves indicate that the company is making huge investments into displays and manufacturing capabilities on behalf of Apple, as Cupertino is thought to be preparing to disrupt the television market with a connected set of its own (providedHollywood jumps on board, of course).
What do you make of this?
