“Hon Hai Precision Industry, the main supplier of Apple Inc, is in talks with Sharp Corp about increasing its stake as it bets on the Japanese firm’s leading edge technology to give it a boost in the cut-throat display panel business,” Clare Jim reports for Reuters. “Sharp’s shares extended gains to over 6 percent after Hon Hai chairman and founder Terry Gou told the company’s annual meeting in Taiwan on Monday that the talks come after a recent steep fall in Sharp’s share price.”
Hon Hai agreed in March to buy new shares in Sharp worth $844 million as part of a tie-up in liquid crystal display production.
“Gou also said he plans to list a Sharp LCD plant in Japan on the Taiwan stock exchange within three years, saying the plant’s advanced technology was better than that of arch-rival Samsung Electronics,” Jim reports. “‘I’m proud to say the cooperation with Sharp will let us beat Samsung in terms of clearness – high resolution,’ Gou told shareholders… For Hon Hai the alliance with Sharp could open the way for it to push for orders for Apple’s much-anticipated Apple TV.”
Read more in the full article here.
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