Foxconn recently announced that its subsidiaries AFE and Innolux have jointly acquired a 7.24% stake in US TV brand Vizio for USD 70 million, with USD 24.99 million from AFE and about USD 44.6 million from Innolux, the United Daily News reported on June 21.With an aim to expand market presence in the United States, Foxconn's investment in VIZIO is to ensure its subsidiary Innolux to have steady TV shipments in order to mitigate the impact of panel oversupply in the long run. Innolux resumed its TV assembly business last year and its clients include Sharp which Foxconn bought in August 2016. Innolux is now able to assemble about 300,000 TV sets monthly and up to 500,000 sets by next quarter.