Foxconn continues to absorb the assets of Japan's Sharp, this time buying out the company's smartphone camera module manufacturing business, Chosun reports.
Sharp has sold a 51% stake in its subsidiary Saigonstek to Foxconn's Fullerton subsidiary, according to industry press reports. The deal is valued at 2.5 billion yen, or about $237 million, and is scheduled to close by September 2025.
Sharp also handed over its second factory in Kameyama, Mie Prefecture, to Foxconn earlier this month, where it produced liquid crystal displays (LCDs). The Japanese company plans to sell its semiconductor business in September, after a first agreement was reached last April.
In 2016, Foxconn struck a $3.5 billion deal to take full control of the Japanese company. The deal came after the well-known display maker had been struggling financially for a long time. At the time, Foxconn CEO Terry Gou said he had a clear vision for the Japanese company's future.