Foxconn commits to sustaining Sharp’s solar business

Share

Almost immediately following the news in late March that Taiwan’s Foxconn would buy Sharp, the speculation began that the contract manufacturer would close the company’s troubled solar and energy storage business.

Today Foxconn shot down those rumors in a letter signed by Foxconn Chairman Terry Gou and Executive VP J.W. Tai, in which the company pledges to both leverage existing Foxconn capabilities and make further investments in Sharp’s Energy Solution Business.

“We want to let you know that we are totally committed to this business,” stated the letter. “We will not only continue to provide the promised after-sales services as in the past, but we will also look forward to servicing you with new and innovative solutions and services in the years to come.”

The company also notes that it does not want to “sugarcoat” the challenges ahead of it. “We are determined to turnaround Sharp by investing actively and boldly in the future by making difficult decisions and doing everything possible to make the company a world class leader again,” reads the letter.

Sharp’s Energy Solutions business sales declined 42% during its latest fiscal year, which ended on March 31, with the segment reporting a loss of US$167 million. While all large Japanese PV makers have been reporting sales declines based on flagging domestic demand, this is much steeper than those reported by Kyocera and Panasonic.

In its annual report, Sharp cited the fall in Energy Solutions as a factor in an 12% fall in overall company sales during the year.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.