Sharp US comments on the Foxconn takeover

The following comes from Mike Marusic, VP at SIC…

I am sure many of you have seen this already, but I wanted to share this with you directly as we are excited to put all the financial issues behind us.  Our alliance with Hon Hai (Foxconn) is huge for us and certainly breaks the mold of the industry.   Outside the highlight of getting the financial issues behind us, it gives us huge opportunities to leverage Hon Hai’s scale

  • Mike MarusicSharp remains “Sharp”  We will continue to be a company traded on the Nikkei.  I know this will disappoint the naysayers, but “Sharp” is not gone, we have new Shareholders.
  • We keep our management structure.
  • Approximately $350 to be invested in our B2B Area.  This is huge relative to our size and shows how committed they are to growing the B2B Business.
  • Hon Hai is big in IT and B2B.  While there has been much press about one of their largest customers, Apple, what has been missed is how deeply entrenched they are in the manufacturing of B2B products for many of the leading IT companies in the world.  Access to this scale and technology is a huge opportunity for Sharp and it’s dealers and transformative for the industry. While I am sure this is a concern to our competitors, we are excited to say the least.
  • Hon Hai is ranked 31st on the 2015 Fortune Global 500 List.  Sharp is ranked 470.  Of our main competitors only Canon (334) and Toshiba (157) is ranked (334), this combination of IT Manufacturing is larger than our top 5 competitors combined.  Last year, Hon Hai recorded $139 billion in revenue and Sharp had $25 billion.  This is formidable.

Over the coming weeks, we will share information with you as the details are made public.  If you have any questions, please feel free to call me.

In the meantime, we will be posting stories and information to this website that you can share on your websites  :  This page will be constantly updated to share current information.

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