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A.T. Faust III
| March 28, 2012
Hon Hai Buys Large Chunk Of Sharp, Securing Large Panels For Apple 'iTV'?
In case you were just dying for even more "iTV" news, Foxconn parent Hon Hai Precision has added to its ownership stake in Sharp Corporation by purchasing 121.65 million shares of the company. In spending roughly $1.6 billion dollars to do so, Hon Hai now owns 46.5 percent of the Japanese electronics brand. (Sharp also owns a 46.5 percent stake, while Sony controls the remaining seven percent.) According to iMore,
[a]s a part of the agreement, Hon Hai will be able to acquire up to half of the large LCD panels and modules made in Sharp’s Osaka plant. The factory will be managed by a third company agreed upon by all of the stakeholders.Large LCD panels, you say? As you know, Sharp is rumored to be the primary panel manufacturer for Apple's upcoming television set, and this new, closer partnership with Hon Hai seems to indicate that Foxconn has an immediate need for a large quantity of such sizable screens. If you're holding out hope for Apple to enter the living room in a big way, this is all very promising. Very promising.