This marks the first foreign acquisition of a prominent Japanese electronics company in history. Foxconn assembles parts for the iPhone, while Sharp is one of the oldest Japanese technology firms.
Taiwanese multinational company Foxconn is acquiring the Japanese electronics giant Sharp for $4.3 billion, as announced on Thursday by Sharp. This marks the first foreign acquisition of a prominent Japanese electronics company in history. Foxconn assembles parts for the iPhone, while Sharp is one of the oldest Japanese technology firms.
Sharp was founded in 1912, and its innovations included the development of mechanical pencils, and they were also pioneers in television development. Although it has been in crisis in recent years and has significant debts, Sharp remains a leader in LCD monitor technology, which is a key area for Foxconn. Sharp globally employs more than 50,000 people.
Technology experts emphasize that these two companies are likely to function well together on a shared global platform.
– Sharp is strong in research and development while Foxconn knows how to find a way to the market, say Apple, and is also strong in other segments, such as manufacturing. Together they can go global, assessed technology professor and former Sharp engineer Yukihiko Nakata.
