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Sharp came to a manufacturing agreement with Foxconn, which will give the company from Taiwan nearly 10% of the Japanese manufacturer. Foxconn has invested ¥ 67 billion ($ 809.1 million) in funds for the Sharp 121.65 million new shares. The newly appointed CEO of Sharp, Takashi Okuda, said that "Until now managed research and development and manufacturing, but as we continue we need to include new partnerships in our approach", promising that both companies will try to market products effectively.
Foxconn will take nearly 50% of Sharp LCD production in Sakai of Osaka, to fill the gaps created after the recent cuts. The LCD will now venture owned 46.5% by Sharp, the same rate will also be Foxconn, with Sony taking the remaining 7%.
Posted in: enterprise,foxconn,sharp,sharp cooperation foxconn
