Foxconn Looks to Double Its Investment in Sharp as iTV Rumors Resurface

Posted August 17, 2012 at 7:12pm by iClarified | Please help us and submit a translation by clicking here | 9730 views

Hon Hai, also known as Foxconn, is looking to double its investment in Sharp from 9.9% to 20% as rumors of an Apple Television surface once again.

The Verge relays a Japanese report from Nikkei.

Nikkei is now reporting that Hon Hai, otherwise known as Foxconn, is looking to increase that number to 20 percent. Additionally, the company has requested that the cost of Sharp's shares be decreased from the originally agreed amount of ¥500 per share as a result its recent drop in stock value and a disappointing performance during its 2011 fiscal year. Should Sharp agree to the terms and allow Hon Hai's share to exceed 10 percent, the Taiwanese company will be also able to ask the court to dissolve the business. Although Hon Hai has not indicated it would make such a move, the ability likely contributes to Sharp's hesitation.

Sharp has already given Hon Hai a 46.5% share of its display division and speculation is high that Hon Hai's aggressive push for ownership is due to its foresight into future Apple products.

Read More [via Verge]