Rumors that Apple could be working on the iTV were sparked in March when Foxconn bought a 10% stake, worth $808 million, in an attempt to save the struggling company.
According to Reuters, Foxconn head Terry Gou announced on Monday that they are negotiating to purchase more shares of Sharp.
Gou also revealed that with this collaboration he intends to create demand for Sharp’s state-of-the-art LCD factory in Sakai, Japan.
“I’m proud to say the cooperation with Sharp will let us beat Samsung in terms of clearness — high resolution,” Gou said.
Reuters also wrote that a partnership with Sharp “could open the way for (Foxconn) to push for orders for Apple’s much-anticipated Apple TV.”
Apple is said to debut the rumored television set later this year.