Gadgets
Apple Just Made a Stealth Acquisition No One Knows About
By Chris Ciaccia
No, Apple isn't doing the dirty work itself and using its near $100 billion in cash for a major purchase. In fact, its Chinese manufacturing partner is doing the heavy lifting for Apple, to allow Apple to continue to crank out record profits from various iDevices.
According to the Wall Street Journal, Foxconn, Apple's Chinese manufacturing partner is going to purchase $808 million worth of Sharp stock to allow Sharp to continue making LCD screens that Apple will inevitably use in the iPhone and iPad.
Foxconn would own a majority stake in Sharp, as the Japanese technology company continues to post losses.
CEO Tim Cook has been a master at securing parts for Apple's products, and while this deal may not have come from Cupertino, it has Cook's influence all over it. Sharp has had trouble improving its output, and this investment will allow it to try to catch up to Samsung in the display business.
Cook and Apple are smart. Seeing your manufacturer do what you need while benefiting you and your products immensely allows Apple to continue to be Apple. This is just another reason why Apple management is head and shoulders above everyone else, and why it's shares continue to reach new highs seemingly everyday. Think different indeed.