Apple TV Updates: Foxconn Rumored to Be Purchasing Sharp Shares Again
Reuters reported Monday that Hon Hai Precision (Foxconn) Chairman Terry Gou may be purchasing more shares of Sharp stock after a significant drop in the display manufacturer’s share prices.
This new report once again boosted speculation that the strategic team-up between Foxconn and Sharp may be a sign of good things to come for the next-generation Apple TV set. In specific, Reuters mentioned that the alliance could motivate Foxconn to “push for orders” for the Apple TV.
Foxconn is Apple, Inc.’s (NASDAQ:AAPL) top supplier and has played a key role in the manufacturing of several Apple devices, including the iPhone and iPad.
On the technical side of things, Sharp manufactures Indium Gallium Zinc Oxide, or IGZO panels, which many believe are just right for the upcoming Apple smart television. Gou said as much in yesterday’s annual company meeting, heaping praise on Sharp’s manufacturing technology.
According to Gou, the team-up with Sharp could be vital in helping Apple come up with a clearer, higher-resolution display than similar products from Samsung. Gou also stated that Sharp’s Sakai plant is working closely with Corning Incorporated (NASDAQ:GLW) for possible large-panel reinforcements. Corning’s most popular product is Gorilla Glass, a form of scratch protection for electronic devices, including mobile phones and laptop computers.
Sharp share prices had dropped to “400 something” yen from 550 yen at the time Foxconn first purchased shares from Sharp, totaling $844 million.