Apple supplier Foxconn gets the green light to buy Sharp

The Chinese anti-monopoly agency has approved the $3.8 billion merger between Apple manufacturing partner Foxconn and display technology company Sharp, reports AppleInsider.

Sharp currently supplies LCD LTPS displays for iOS and Mac devices. The Wall Street Journal notes that “the deal is a victory for Foxconn, which has been looking to expand in the market for next-generation displays with its pursuit of Sharp, a supplier of smartphone screens to Apple.”

Hon Hai Precision Industry, which trades as Foxconn Technology Group, is a Taiwanese multinational electronics contract manufacturing company headquartered in Tucheng, New Taipei, Republic of China. It is the world's largest electronics contractor manufacturer, and the third-largest information technology company by revenue.