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Electronics Production | August 17, 2012

Report: Foxconn wants to double stake in Sharp

Hon Hai is considering doubling its stake in Sharp from 9.9 percent to 20 percent according to a report by media outlet Nikkei.

Nikkei reported that financial lenders are pressuring Sharp into a capital deal with Hon Hai. Sharp has denied an earlier report from Nikkei that Sharp was contemplating opting out of its copier, air-conditioner and LED businesses. "It is true we are considering various matters for the recovery of our performance, and we will swiftly announce them if we make any decisions that need to be disclosed," sharp has said. Sharps shares jumped 13 percent following Nikkei's report.
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