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Foxconn won't sell Sharp's solar power business

May 25, 2016 7:46 AM ETFoxconn Technology Co., Ltd. (FXCOF) StockFXCOF, SHCAF, SHCAYBy: Yoel Minkoff, SA News Editor
  • Foxconn (OTC:FXCOF) says it will not sell Sharp's (OTCPK:SHCAY) solar power unit, amid concerns from business partners over a possible closure of the struggling division.
  • "We want to let you know that we are totally committed to this business," the company said in a letter.
  • Foxconn plans to seal a $3.5B deal by the end of June that would give it a two-thirds stake in Sharp.

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