Foxconn and Sharp Corp sign deal for takeover

Q.  Foxconn has signed a long awaited deal with which company to take control of it?
- Published on 04 Apr 16

a. Sharp Corp
b. Smart Corp
c. ShadeCorp
d. None of the above

ANSWER: Sharp Corp
 
Taiwanese company Foxconn has signed a deal to take control of Japanese display maker Sharp Corp. At a press conference associated with the signing of the USD 3.5 billion deal, Foxconn CEO has indicated that Sharp will become profitable soon. Sharp’s proprietary known how for mass production of IGZO or Indium Gallium Zinc Oxide, display technology superior to OLED or Organic Light Emitting Diode Technology used in products like Apple’s iPad.
  • Foxconn was formally known as Hon Hai precision industry co before this.
  • It took 2/3rd stake in Sharp at a big discount from the original offer this week.

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