By: Matthew Strong, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – Hon Hai Precision Industry Co., Ltd. Chairman Terry Gou signed the 388.8 billion yen (NT$111.8 billion, US$3.4 billion) investment deal with Sharp Corporation in Osaka Saturday.
The official signing gives the Taiwanese company 66 percent of Sharp, and crowns a saga lasting years, during which offers for the ailing Japanese brand name came and went until a final agreement was reached last Wednesday. The agreement is expected to cement the role of Hon Hai, which is also known by the name Foxconn, as one of the world’s biggest manufacturer of computers and cell phones, in particular for Apple Inc. Control over Sharp will allow the Taiwanese company to improve its development of high-definition LCD panels for mobile devices, reports said.
Immediately after the signing, Gou, Sharp Chairman Kozo Takahashi, and Hon Hai Vice Chairman Tai Jeng-wu stood for minutes hand in hand posing for the media in front of a screen with the company names and the flags of Taiwan and Japan. [FULL STORY]