Foxconn acquires stake in Vizio TV brand

Could lead to assembly work in Wisconsin, report says

Foxconn products on display at Waukesha County Technical College.

Last updated on July 2nd, 2019 at 09:11 pm

Foxconn Technology Group and one of its subsidiaries are acquiring a combined 7.24 percent stake in the California-based television brand Vizio for nearly $70 million, according to a report by Nikkei Asian Review.

Foxconn products on display at Waukesha County Technical College.

Hon Hai Precision Industry, the Foxconn parent company, and its LCD panel subsidiary Innolux are making the investments. Nikkei reported Jim Hung, who becomes Innolux chairman on Thursday, said the investment will provide the company steady shipment demand to the brand over the long term.

The report also noted the deal could pave the way for potential TV assembly operations at Foxconn’s planned manufacturing campus in Mount Pleasant while also providing access to Vizio’s sales channels in the U.S.

Sign up for BizTimes Daily Alerts

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

Arthur covers banking and finance and the economy at BizTimes while also leading special projects as an associate editor. He also spent five years covering manufacturing at BizTimes. He previously was managing editor at The Waukesha Freeman. He is a graduate of Carroll University and did graduate coursework at Marquette. A native of southeastern Wisconsin, he is also a nationally certified gymnastics judge and enjoys golf on the weekends.

No posts to display