Foxconn Chairman Terry Gou revealed that his company is currently considering buying more shares of Sharp following a drop in share price, reports Reuters.
During Foxconn’s annual meeting in Taiwan on Tuesday, Gou told shareholders: “I’m proud to say that the cooperation with Sharp will let us beat Samsung in terms of clearness – high resolution,” suggesting that an impressive new television is going to be made in Foxconn’s factories, possibly for Apple.
Gou also said that Sharp’s Sakai plant has “an exclusive agreement with Corning on large panel supply; so our competitors won’t be able to secure any glass even if they want it.”
In March, Hon Hai Precision Industry (the parent company of Foxconn) purchased a 10 per cent stake in Sharp and acquired almost half of its LCD panel subsidiary Sharp Display Products. This announcement led to speculation that Foxconn and Sharp would be partnering up to supply Apple with its smart TV. In May Sharp and Foxconn announced an agreement to construct a new facility together.
Sharp already supplies Apple with displays for the third-generation iPad and other devices.