From PC World: Foxconn, the faceless contractor that assembles many Apple products, is moving up the manufacturing stack with an acquisition that will give it a global consumer brand.
After years of negotiation, it has finally sealed its on-again, off-again deal to buy troubled Japanese components and consumer electronics vendor Sharp.
Foxconn Technology Group will pay ¥389 billion (US$3.43 billion) for a 66 percent stake in Sharp, the two companies said Wednesday.
The deal gives Foxconn access to a captive market for its assembly services -- but also to a broad range of electronic components and consumer devices that could allow it to take a larger share of the value added between design and delivery.
For years, Sharp was a household name for its TVs, but it also sells printers, projectors, phones and point-of-sale systems. Foxconn's majority ownership of Sharp will put it into competition with some of its own customers.
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