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Foxconn confirms Sharp purchase for $ 3.5 billion

Foxconn

Foxconn

Working manufacturing components for the iPhone is a business that brings many benefits. For that reason, some companies fight to be the choice of the Cupertino company, as is the case of TSMC and Samsung in the processors. Foxconn He is the one in charge of assembling all the pieces to assemble the iPhone, but from now on he will also be in charge of the apple's smartphone screens.

It has already been confirmed that Foxconn has bought Sharp for 389,000 million yen (approximately 3,054 million Euros). It had been more than a month since this acquisition was being discussed, but the negotiations stopped because of something unknown. Apparently, both companies began conversations that came to fruition despite the fact that Foxconn tried (and managed) to negotiate a lower price to acquire the Japanese company. With this agreement, the main iPhone manufacturer will keep 66% of Sharp's shares and a possibility of purchase that will allow it to increase to 72% as of July 2017.

Foxconn will also manufacture screens for iPhone

Sharp is a very important company in Japan that fails to be relevant outside its country. It manufactures many products, such as calculators, televisions and refrigerators, something that will be expanded thanks to the new acquisition, especially in a section of screens that will improve its manufacturing of OLED technology. As in many other acquisitions, part of Foxconn's interest in Sharp is his patent portfolio, many of which are related to display technologies.

An agreement has been reached, but one step remains: stamp the signature. The transference will be signed on Saturday April 2 and then a press conference will be held in Osaka in which the two Sharp CEOs, Kozo Takahashi and Terry Gou will be present.

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