Mobile Phones Guide
Foxconn CEO Says iPhone 5 Will Put to Shame Samsung Galaxy S III
At the annual shareholders’ meeting of Hon Hai Precision (more known as Foxconn), its CEO, Terry Gou, made some audacious statements against the Korean chaebol Samsung. The boldest among these was Gou’s recommendation to consumers to watch out for the imminent iPhone 5 which will put the current Samsung Galaxy S III to shame. China Times reported that Gou commented on Samsung’s schemes against its competitors and declared his commitment to defeat the Korean giant.
Gou also announced its joint venture with Sharp which will enable Foxconn to defeat Samsung in three to five years, particularly in the display panel business. It was reported that Foxconn is planning to acquire 46.5% stake in Sharp’s Sakai LCD panel plant for the price of US$ 800 million. The plant has an exclusive agreement with Gorilla Glass maker Corning that will prevent competitors from getting desired materials from the company.