After long months of negotiations, now comes the official confirmation: Foxconn Technology Group has approved the acquisition of 66% of the shares of the Japanese Sharp.
The Japanese company had long been in financial difficulties, for this a few months ago the negotiations for the acquisition by Foxconn had been launched. The agreement was finalized for a total of $ 3.5 billion.
With this acquisition, now Foxconn will not be limited only to assemble components of the iPhone, but can physically also provide the display, with surely more advantageous prices for Apple itself. Moreover, if such production could increase with contributions from Foxconn, Apple could drop the agreements with LG and Samsung, which together with Sharp, have always provided the display for iPhone and iPad. Among other things, the Cupertino company would open a production workshop in Taiwan to realize the already thin and bright screens, that soon could then be manufactured by Foxconn-Sharp.
(Source: The Wall Street Journal)