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Sharp to acquire stake in Taiwanese mobile phone store operator

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Sharp to acquire stake in Taiwanese mobile phone store operator

Sharp Corp. on Sept. 29 agreed to buy a 33% stake in Taiwanese mobile phone store operator Aurora Telecom Corp., the Nikkei Asian Review reported Oct. 11.

Sharp, a unit of Taiwanese IT company Hon Hai Precision Industry Co. Ltd., will acquire the stake through a local subsidiary for about ¥1 billion ($8.86 million), the report said.

The Japanese consumer electronics maker reportedly plans to use Aurora's retail network to sell its products in Taiwan, including LCD televisions, white goods and those related to the internet of things and business-to-business offerings.

Aurora runs 148 stores on the island.

The deal marks Sharp's first investment in a retailer to increase its consumer electronics sales, according to the report.