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©Sharp Electronics Production | March 27, 2012

Hon Hai increases stake in Sharp

Sharp has announced a deal with the Hon Hai Group today. Under the deal Hon Hai will pick up 50% of Sharps holding in its Sakai LCD factory. The company will also issue shares to Hon Hai.
Sony is currently a minority shareholder in the Sakai plant, with 7%, meaning Hon Hai and Sharp will own 46.5 % respectively. The LCD panel plant will be mutually managed by one company set by partner companies.

Sharp said in a statement that the two companies will take advantage of the economy of scale and material procurement in LCD panel and LCD TV fields, and will further enhance cost competitiveness in the global market.

Sharp also said it will issue new shares to Hon Hai, giving the gropup around an 11 percent stake in Sharp.

Speaking of the decsion the company said : “The market surrounding electronics industry is becoming severe, with rapid price decline due to the development of digital technology and increasing competition in a global market. We believe the timely action is necessary to tackle these changes in the market”.

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