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Foxconn looks for a board seat at Sharp as Apple HDTV nears

Updated Dec 19th, 2018 8:30PM EST

Manufacturing heavyweight Foxconn (2354) is reportedly interested in acquiring board seats at Sharp Electronics (6753), DigiTimes reported on Friday. The company received three non-executive board seats at Sharp Display earlier this month after it acquired a 46.48% stake in the company, equivalent to 1.32 million shares. In response to reports that it was seeking a board seat at Sharp Display’s parent company, Foxconn reportedly said that “the company’s focus in cooperating with Sharp is to help complement each’s weakness to allow each side to achieve maximum benefits.” The company did say “a board seat is not really the main focus of Foxconn,” however, adding that it’s “hoping to have more substantial influence to help Sharp improve its management and sales and raise the panel maker’s profitability.” Sharp Display currently supplies display panels used in Apple’s latest iPad, and it is rumored to be building TV panels for Apple’s rumored HDTV, which is expected to launch early next year.