Now Foxconn owns 66% stake in Sharp, but the company Sakai Display Products nominally controlled personally by Terry Guo , and do not belong to Foxconn Corporation.
The Taiwan authorities, recently approved a deal to increase the proportion of Foxconn structures in the capital Sakai Display Products from the current 37.61% to 53.05%. Formally, the buyer of the new stake will be the eldest son of Foxconn founder . Special investment arm SIO International will invest in Sakai Display Products about $ 448 million. At the current rate. The share of Sharp in the joint venture after the transaction will be reduced to 26.71%.
Sakai Display Products has manufacturing tenth generation capacity allowing to produce LCD panels for large TVs. This asset is important for Foxconn, as the company wants to strengthen the position of Sharp brand in the segment of television technology. In addition, the SDP releases such as OLED displays, including options on a flexible basis that Foxconn interest from the point of view of obtaining orders for the release of next-generation iPhone .