Taiwan-based Hon Hai/Foxconn Technology Group has purchased a controlling stake in Japan's Sharp Electronics for 2.5 billion dollars.Foxconn transferred a deposit of 100 billion Japanese yen to Sharp on 31 March.
Foxconn is the world's largest electronics outsourcing firm,manufacturing the likes of the iPad,iPhone,Kindle,PlayStation 4,Xbox One and NokiaFounded by Terry Gou (pronounced "Gwa"),it is the third largest technology company in the world by revenue.With factories that can range to gargantuan proportions in Asia,Brazil,Europe and Mexico,its more than one million workers produce 40% of all consumer electronics.The group's revenue derives mainly from manufacturing services in connection with handset production.*
Foxconn,a Fortune Global 500 firm,is the largest exporter in Greater China and the second largest in the Czech Republic.Hon Hai Precison Instrument Co Ltd of New Taipei,Taiwan is the anchor company of Hon Hai/Foxconn Technology Group.Foxconn says it is the most dependable partner for joint design,joint development,manufacturing,assembly and after-sales services to global Computer,Communications and Consumer Electronics (3C) leaders.It has over 55,000 patents in fields such as nanotech;wireless network;environmental protection;optical plating technique;precision/nano processing;and network CMOS chips.It also provides end-to-end services such as its logistic and e-supplying system adopted for global supply chain management;computer software development and programming;and sales channel solutions.*
Sharp was founded as a mechanical pencil maker,but today is the fourth largest manufacturer of LED screens.Explaining his purchase,Mr.Gou said he has deep respect for Sharp's innovation and leadership.In acuiring Sharp,he has added a creator of products to a firm known for executing the designs of others.
Although at times questions have been raised about its treatment of workers and there have been some suicides by its workers,Foxconn says it is committed to continual education,investing in people long-term and localization globally.It is a penny stock trading under the name FIH Mobile and had a dividend yield of 2.42% as of close of trade Monday.*
FIH Mobile Ltd (OTC:FXCNF),Sharp Corp ADR (OTC:SHCAY)
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