Foxconn Chairman to Meet Sharp Executives to Close Partnership Deal
It appears that a recent deal between Samsung and Sharp has spurred the hierarchy at Foxconn to get their act together.
According to a new Digitime report, the chairman of Foxconn is set to meet with executives of Sharp to close a partnership deal. Last month we reported that the negotiations between Foxconn and Sharp were still ongoing.
“Foxconn Electronics (Hon Hai Precision Industry) chairman Terry Guo reportedly will have a meeting with Sharp’s executives in Japan soon to finalize the two firms’ partnership,” Ninelu Tu, Taipei and Joseph Tsai report for Digitimes. “Guo originally planned the meeting on March 5, but due to Sharp’s announcement of Samsung’s investment, it was postponed to a later time.” The report was based on information obtained from market watchers familiar with the matter.
Report:
[quote] Guo’s participation in the meeting indicates that negotiations between the two firms should be close to reaching an end.
Due to banks in Japan still favoring the idea of Foxconn gaining control in Sharp’s operations, Guo originally intended to use the advantage to achieve a favorable result for Foxconn, but with Samsung’s involvement the market watchers now believe Guo may need to give some concessions to Sharp.[/quote]
Yep, it appears Samsung has forced Guo’s hand in this one. And with a huge Apple TV deal on the horizon, Foxconn desperately needs a piece of Sharp display business.
Source: Digitimes
