Foxconn plans to increase stake in Sharp

According to a report by Reuters, Chairman Terry Gou indicated at the company's annual meeting that he would like the company to take a further stake in Sharp in order to compete against Samsung in the LCD buisness. "I'm proud to say the cooperation with Sharp will let us beat Samsung in terms of clearness - high resolution," Gou said. The company agreed to take a 9.9 percent of Sharp, worth 844 million USD, at a stakeholders meeting in March this year and also owns a 46.48 percent stake in Sharp’s LCD manufacturing plant in Sakai, Japan.