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Business deals

Foxconn group to buy stakes in American TV brand Vizio

Along with Wisconsin plant, investment accelerates US expansion

HSINCHU, Taiwan -- Contract electronics maker Hon Hai Precision Industry and its LCD panel subsidiary Innolux will buy stakes in North American television brand Vizio, the Taiwanese companies said Wednesday, part of the group's strategy to expand in the U.S. market.

Hon Hai, known as Foxconn Technology Group, will acquire a 3.1% stake in Vizio for $24.99 million while Innolux purchases 4.14% of the TV brand for $44.99 million, the two firms' filings with the Taiwan Stock Exchange show.

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