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​Foxconn acquires Sharp

Sharp Aquos Crystal Android smartphone, Sharp joins Foxconn
Sharp Aquos Crystal
After completing this $3.5 billion deal, Foxconn appointed Tai Jeng-wu as Sharp's new president and chief executive.

Foxconn and Sharp have spent months negotiating this deal and now the corporate acquisition of the debt-ridden Japanese company is finally complete. With a history of over a century, Sharp managed to grab the leading place in the mobile phone market in Japan, also being the tenth-largest TV maker in the world by market share (back in 2013). Now, the company is an integral part of Foxconn Group.

The deal was complete last Thursday when Sharp confirmed that "all examinations by the competition authorities of the relevant countries have been completed." Sharp's president and chief executive officer Kozo Takahasi has left his position, being replaced by Foxconn's vice chairman, Tai Jeng-wu. The value of the deal is almost $3.5 billion.

Back in July 2015, Chinese company Hisense purchased Sharp's American TV business for $23.7 million, gaining full rights to use the Sharp name across the US, as well as ownership of the company's TV production facility in Mexico. Last week, Sharp announced its 2016 financial results that show a continued net sales decline, as well as an operating income loss of over $1.6 billion.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2016 08 > ​Foxconn acquires Sharp
Codrut Nistor, 2016-08-15 (Update: 2016-08-15)
Codrut Nistor
Codrut Nistor - News Editor
Although I have been writing about new software and hardware for almost a decade, I consider myself to be old school. I always enjoy listening to music on CD or tape instead of digital files and I will not even get into the touchscreen vs physical keys debate. However, I also enjoy new technology, as I now have the chance to take a look at the future every day. I joined the Notebookcheck crew back in 2013 and I have no plans to leave the ship anytime soon.