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Foxconn Bailout of Sharp Throws Into Doubt Solar Future

  • Sharp vows to improve revenue at energy-solutions unit
  • Company plans new investments in home energy management
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Foxconn Technology Group’s decision to take a majority stake in Sharp Corp. throws into doubt the fate of the Japanese electronics maker’s solar operations, a business that once made the Osaka-based company the world’s largest seller of solar cells.

Under the terms of the sale, the parent of Hon Hai Precision Industry Co. will control 65.9 percent of Sharp after buying stock, beating out a rival offer from state-backed Innovation Network Corp. of Japan.