Taiwan's Foxconn buying Japanese electronics pioneer Sharp for $3.5 billion


After years of stalled and failed negotiations, the boards of Foxconn Technology Group and Sharp Corp. agreed Wednesday to a majority takeover of Japan's Sharp by Taiwan electronics assembly giant Foxconn. The 103-year-old Sharp makes a wide array of consumer electronics for the Japanese market, but is mostly known outside Japan for its TVs and smartphone displays. It's those displays that reportedly drew the interest of Foxconn Chairman Terry Gou, who wants to move his company up the value chain from low-margin manufacturing at its gigantic factory complex in China.
Foxconn will spend about $3.5 billion for a 66 percent stake in debt-laden Sharp, a drop from the $5.5 billion it was expected to pay as recently as a few weeks ago, before Foxconn discovered $3 billion in potential liabilities. When completed, it will be the largest ever foreign takeover of a Japanese consumer electronics firm.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
Supreme Court allows transgender troop ban
speed read The US Supreme Court will let the Trump administration begin executing its ban on transgender military service members
-
'You might be surprised by how much you find yourself cheering for them'
Instant Opinion Opinion, comment and editorials of the day
-
India strikes Pakistan as tensions mount in Kashmir
speed read Pakistan's Prime Minister Shehbaz Sharif called it an 'act of war'
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocks
Speed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
Getty Images and Shutterstock merge into a picture powerhouse to combat AI
The Explainer The $3.7 billion deal is one of the largest in the industry's history