Hon Hai Precision (HNHAF.PK), parent of contract manufacturer Foxconn, says it will buy more...

|About: Hon Hai Precision Industry ... (HNHAF)|By:, SA News Editor

Hon Hai Precision (HNHAF.PK), parent of contract manufacturer Foxconn, says it will buy more shares of Sharp (SHCAY.PK) due to the recent decline in the latter's shares. In March, Hon Hai announced it would take a 9.9% stake in Sharp, while chairman Terry Gou would take a 46.5% stake in the company's display ops. Today's news resulted in a 5.6% gain for Sharp on the Tokyo exchange, and has led to new speculation the tie-up is related to Apple TV production.