Foxconn (Hon Hai Precision Industry) may gain control of LED maker Unity Opto Technology by taking up a number of seats on the company's board of directors or supervisors, with the deal to be finalized by the end of the this month, according to the Chinese-language Apple Daily.
Foxconn spokesperson Edmund Ding was quoted as saying that the company has not heard of such a matter and attributed the report to market speculations while Unity Opto spokesperson Cong Jhih Wong (transliterated from Chinese) was cited as saying that the company currently has no such plans to invite Foxconn to sit on its board.
Market sources said Foxconn has chosen to take a seat on Unity Opto's board since the latter has shipped LED backlighting to Innolux Display, a Foxconn group member, and the stock price of the LED maker is reasonable for Foxconn to purchase, the paper indicated.
In addition, Foxconn is assessing the possibility of buying shares of an LED chipmaker, with Epistar topping the list, and a deal to be determined before the end of June, the paper said.
Article translated by Carrie Yu and edited by Eric Mah
