Foxconn which is currently one of Apple’s biggest suppliers, has just agreed a deal that will allow it to have an even bigger part of Apple’s i-phone production.
The Deal isn’t finalised yet but is worth $5.25 billion in shares and if completed will see Foxconn take over struggling Japanese electronics firm Sharp. The reason this deal is huge is becuase in the last 9 months of 2015 Sharp has lost around $960 million, meaning Foxconn is taking a huge risk on this investment.
Foxconn CEO Terry Gou has had his sights set on Sharp for some time as he personally acquired 38 percent ownership of a display factory in Sakai, Japan owned by sharp way back in 2012, the CEO went onto try and purchase a firther 10 percent stake although this deal fell apart.
Original source Cult of Mac