Hon Hai in no hurry to finalize Sharp deal

“Hon Hai Precision Industry Co. Chairman Terry Gou said Wednesday that the company isn’t in a rush to reach an investment deal with struggling Japanese consumer electronics maker Sharp Corp.,” Lorraine Luk reports for The Wall Street Journal.

“Hon Hai, known by the trade name Foxconn, has been aggressively building up its capability to manufacture large panels used in high-resolution televisions,” Luk reports. “As part of its move to increase its know-how in the panel business, it has bought some Sharp assets and has been negotiating with the Japanese company to buy a 10% stake, but the two sides have yet to agree on a price. ‘We hope to help turn around Sharp’s operation,’ Mr. Gou told shareholders at Hon Hai’s annual general meeting. ‘I believe that Sharp will make a wise decision.'”

Luk reports, “People familiar with the situation have told The Wall Street Journal that Apple Inc. is testing high-resolution TV designs with Hon Hai and Sharp, which could be a boon for both companies… Hon Hai is the main assembler of Apple’s iPhones and iPads and the world’s biggest contract manufacturer of electronics.”

Read more in the full article here.


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