The Sharp saga continues. Earlier this month we mentioned that Sharp were engaged in a sales process. This has been confirmed by the Board of Directors they have accepted the Foxconn proposal.
The giant Taiwanese electronics subcontractor, which builds smartphones and tablets for Apple and Samsung in China, will gain 65% of Sharp's capital for around 5.26 billion euros. (We would quote this in dollars but the exchange rate is changing faster than shares in Sharp ...)
This acquisition is huge for Foxconn, allowing them to compete in screen technologies with giants like Samsung or LG. For Sharp, this acquisition is an opportunity to turn the corner following the recent financial difficulties and make
their return with confidence to the big league.
Just as a reminder, in 1912 Tokuji Hayakawa founded a metalworking shop in Tokyo and in 1915 invented the first propelling pencil, the Ever-Sharp Pencil. In 1960, Sharp was the first to bring a pocket electronic calculator to the market, and the first to put a camera on a mobile phone in the early 2000s.