Hon Hai chairman demands management role at Sharp to finalize dealTerry Gou, the chairman of Hon Hai Precision Industry Co., has demanded a management role at Sharp before his company will agree to invest in the struggling LCD maker.
Gou said in a recent interview that a deal solely offering Hon Hai a capital investment would not be enough, according to Reuters. Hon Hai is the parent company of Foxconn, Apple's main overseas manufacturing partner.
Sharp is rushing to reach a deal with Hon Hai as shares is the company continue to plummet. But Gou has demanded that he be given a management role in Sharp as part of a potential deal, giving him greater influence at the company.
Hon Hai is in talks to buy a 9.9 percent stake in Sharp. It was also revealed last week that Foxconn and Sharp may collectively invest $1 billion in Sharp's Sakai, Japan, plant to boost production for Apple.
On Topic: General
- Latest 4K drone footage of Apple's 'spaceship' Campus 2 shows landscaping, functional HVAC
- 10nm chip foundry process coming to Apple partner TSMC ahead of Intel
- Customer rampages through French Apple Store, smashes iPhones, iMacs, MacBook Air
- AppleInsider podcast talks Apple Watch Series 2, iPhone 7, DJI Mavic Pro, and more
- Sharp to invest $568M in OLED technology in 2018