Foxconn chief slams Toshiba deal as “high-tech scam”

Gou wants to build Toshiba factory in U.S.

Taiwan News
Date: 2017/06/22
By: Matthew Strong, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – Foxconn Technology Chairman Terry Gou (郭台銘) slammed Toshiba’s decision

Hon Hai chairman Terry Gou rips up Toshiba news report. (By Central News Agency)

not to sell its chip unit to the Taiwanese company as a “high-tech scam” and publicly ripped up a newspaper reporting on the deal.

Foxconn, better known in Taiwan as Hon Hai Precision Industry Co., Ltd. (鴻海精密工業), was one of several bidders for the Japanese chipmaker, but on Wednesday, Toshiba named an alliance between Bain Capital of the United States, Innovation Network Corporation of Japan (INCJ) and Development Bank of Japan (DBJ) as its preferred bidder.

Addressing a regular shareholder meeting at his company headquarters in New Taipei City Thursday, Gou first said the die had not yet been cast and changes were still possible.

He later derided Toshiba’s decision as a “high-tech scam” and blamed Japanese government bureaucrats for pushing the Toshiba Memory unit toward an uncertain future. They were taking revenge because he had not followed their advice during his takeover of Sharp Corporation last year, Gou said.

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