Foxconn or hand in hand with Sharp, huge investment in Apple LCD production

“Reuters” reported that Hon Hai precision insider C.C.Lin recently revealed that the company intends to invest $1 billion in Sharp’s factory in Sakai, Osaka, Japan to increase production. The insider also revealed that Hon Hai Precision is considering purchasing Sharp’s TV assembly plant in China and Mexico, once again supporting the news of Apple TV products. Although Sharp has encountered some financial problems recently, Foxconn has not shown any intention to regress. Last week, Sharp’s share price plummeted 70% in five months, and the Wall Street Journal began to doubt the negotiations between the two sides, speculating that Foxconn may give up. Reuters reported that Foxconn and Sharp will announce the details of this investment as early as this Friday. In addition, the news said that the two sides are still negotiating to transfer 9.9% of Sharp’s shares to Foxconn. C.C.Lin said that the fate of the two sides’ transactions was in the hands of Sharp’s top management, depending on whether they accepted Hon Hai’s proposal to improve profits. If the two sides deal, the Foxconn can further reduce the cost of parts for Sharp. Sharp is already the LCD panel supplier for Apple devices iPhone and iPad. If they cooperate with Hon Hai, the two sides will further improve their position in the Apple supply chain. Sharp executives have already announced that they have begun shipping the screen products for Apple’s new iPhone.

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