Foxconn Throws $1.6 Billion Into Sharp For Flatscreen Panels

Terry Gou

Photo: AP Images

Apple manufacturer Foxconn is investing $1.6 billion in Sharp and committing to buying up to 50% of the company’s flatscreen panels, reports Bloomberg.This could be a move on Foxconn’s end to simply ensure that it has a decent supply for future products, such as the long-rumoured Apple television.

Sharp is also “in trouble and their very survival is at stake. Maybe the tie-up will help,” said Edwin Merner, president of Atlantis Investment Research.

Whatever the reason, it’s a brave move on Foxconn’s part when you consider recent market research from iSuppli that indicates flat-panel TV sales are falling in the US.

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