Foxconn has agreed to acquire a 66% stake in Sharp for $3.5 billion, said the companies today.
The sale price is considerably less than the $5 billion Foxconn offered earlier in the month. Foxconn is a Chinese company known mostly for building Apple products. Sharp, based in Japan, chiefly makes displays. It has suffered from financial problems for years.
Foxconn believes adding Sharp’s display technology to its own product mix will help it earn more manufacturing business from companies like Apple.
