The Chinese anti-monopoly agency has approved the $3.8 billion merger between Apple manufacturing partner Foxconn and display technology company Sharp, reports AppleInsider.
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Sharp currently supplies LCD LTPS displays for iOS and Mac devices. The Wall Street Journal notes that “the deal is a victory for Foxconn, which has been looking to expand in the market for next-generation displays with its pursuit of Sharp, a supplier of smartphone screens to Apple.”
Hon Hai Precision Industry, which trades as Foxconn Technology Group, is a Taiwanese multinational electronics contract manufacturing company headquartered in Tucheng, New Taipei, Republic of China. It is the world’s largest electronics contractor manufacturer, and the third-largest information technology company by revenue.
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