ADVANTAGES OF SCALE:Terry Gou did not say if Foxconn has officially submitted a bid, but added that ‘money should not be the only thing [for Toshiba] to consider’
Date: Mar 02, 2017
By: Lauly Li / Staff reporter
Foxconn Technology Group (富士康), the world’s largest contract electronics manufacturer, yesterday acknowledged that it intends to buy Toshiba Corp’s loss-making chip business.
Foxconn chairman Terry Gou (郭台銘) announced the plan during a groudbreaking ceremony for a factory in China.
“We have the experience of [buying] Sharp Corp. We are sincere and confident about [investing in] Toshiba,” Gou told a media briefing after the ceremony at Sakai Display Production Corp’s (SDP) 10.5-generation display factory in Guangzhou, China.
The briefing was live-streamed on the Internet.
It was the first time Gou publicly confirmed the company’s interests in purchasing Toshiba’s memorychip business, after the Japanese firm last month said it plans to sell stakes in its memorychip unit and other businesses, in a bid to alleviate its financial troubles. [FULL STORY]