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Foxconn seals $3.5B takeover of Sharp
Foxconn and Sharp Corp on Saturday formally signed a long-awaited deal that would see the Taiwan firm take control of the Japanese display maker, as executives sought to dispel lingering doubts over whether Sharp can turn around its ebbing fortunes.
At a packed news conference following the signing of the $3.5 billion deal, Foxconn CEO Terry Gou ducked questions about how - and when - Sharp would become profitable again, but expressed confidence in the Japanese company's ability to bounce back with its highly regarded technology.
Gou pointed to Sharp's proprietary know-how to mass-produce the advanced IGZO (indium gallium zinc oxide) display technology as a standout, calling it superior to the popular OLED (organic light-emitting diode) technology. IGZO technology is used in products such as Apple iPad.
Foxconn and Sharp Corp on Saturday formally signed a long-awaited deal that would see the Taiwan firm take control of the Japanese display maker, as executives sought to dispel lingering doubts over whether Sharp can turn around its ebbing fortunes.
At a packed news conference following the signing of the $3.5 billion deal, Foxconn CEO Terry Gou ducked questions about how - and when - Sharp would become profitable again, but expressed confidence in the Japanese company's ability to bounce back with its highly regarded technology.
Gou pointed to Sharp's proprietary know-how to mass-produce the advanced IGZO (indium gallium zinc oxide) display technology as a standout, calling it superior to the popular OLED (organic light-emitting diode) technology. IGZO technology is used in products such as Apple iPad.
