Sharp: An investment by Foxconn
Taiwan’s Hon Hai Group, which owns the Foxconn assembly plants that produce iPads and iPhones, is investing $1.6 billion in Japan’s Sharp, a major manufacturer of thin-film transistor liquid-crystal displays. In February, Sharp announced it expects to lose $3.49 billion this fiscal year, partly because an investment in a plant to produce LCDs larger than 55 inches has yet to pay off, as consumers favor smaller sets. Daiwa Securities Capital Markets says the deal—which gives Hon Hai 46.5 percent of the Sharp unit that owns the LCD fab—is more evidence that Apple may be working on an iTV. This is Hon Hai’s third investment in display makers in three years.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- These Guys Want to Lend You Money Against Your Bitcoin
- Fed Raises Rates, Eyes Three 2018 Hikes as Yellen Era Nears End
- This Electric Truck Will Probably Beat Tesla’s to Market
- Bitcoin Points Way to ‘Massive Change’ for Commodity Businesses
- Famed Short-Seller Jim Chanos Says Tesla Headed for ‘Brick Wall’