Taiwan’s Foxconn, the world’s biggest contract electronics manufacturer, agreed to acquire Japan’s Sharp Corp for about $3.5 billion.
The company that, among many things, has huge manufacturing facilities in China making iPhones, is taking roughly a two-thirds stake in the Japanese display and electronics manufacturer. It’s the biggest acquisition to date in Japan’s arguably fading consumer tech business.
The deal, suggests the news agency Reuters, gives Foxconn “control of Sharp’s advanced screen technology, which it does not have, and helps strengthen its pricing power with major client Apple.”
It’s not yet clear, as you might, what the deal’s implications are for Sharp’s commercial display business. The company also makes everything from microwaves to air purifiers.