Foxconn’s Ambition to Become a Leader in Clean-Energy Boosted by the Takeover of the Japanese Electronics Sharp

The Taiwanese manufacturer Foxconn Technology Group, previously known as Hon Hai Precision Industry Co., is acquiring the struggling Japanese electronics giant Sharp to fulfil its ambitions for a bigger role in clean energy in some of the world’s most polluting countries, while also providing a firmer footing in Japan. It will begin producing high-end smartphone screens, particularly the organic light-emitting diodes that will be used by the next generation of Apple devices, Apple being its biggest client. With this $3.5 billion deal, Foxconn is aiming to become a leader in China’s clean energy revolution. It had previously announced plans to improve energy efficiency at its factories and introduce more solar power in China and India. By buying the Osaka-based Sharp, Foxconn gains a company regarded as a pioneer in the development of solar panels.

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