We reported earlier, that Foxconn was going to build a new plant for Apple that would worth US $ 210 Million.Now Sharp will be aiding Foxconn in this as you all know the relation between Foxconn and Sharp.
Sharp and Hon Hai Precision, the parent company of Foxconn, are partnering to improve the LCD manufacturing process for the iPhone.
A report by Reuters is pointing to Nikkei business daily report that says Sharp will be helping Foxconn outfit a new Chengdu plant with the latest LCD manufacturing technology. Foxconn will use Sharp’s know-how to improve its iPhone display manufacturing process. In return, Hon Hai, parent company of Foxconn, will be buying an 11 percent stake in Sharp that’s worth 66.9 billion yen (US$844 million as of this writing).
This agreement follows an earlier deal that gave Hon Hai a 46.48 percent stake in a Sharp’s most advanced LCD display plant in Sakai, Western Japan.