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Best known as a supplier to tech players like Apple, the Taiwan-based company is setting up a new R&D center to build up its display business, says Reuters.
This prototype can record and mix sounds around you while drawing on a database of funky beats.
The companies have been working to finalize a deal that would make Hon Hai the largest shareholder, with a minority stake in Sharp.
The two companies are reworking their deal in light of Sharp's share-price decline, and won't issue an update until the end of August, Reuters reports.
Foxconn CEO boasts about the iPhone 5, suggesting that consumers pass on Samsung's Galaxy S III and wait for Apple's next phone.
According to a report out of China, the timeline has been pushed up a bit, since Foxconn wasn't expecting to get Apple TV parts until the fourth quarter.
The Apple supplier issues a denial to reports that CEO Terry Gou had said Foxconn was getting ready to produce the feverishly anticipated, but never yet announced, device.
A new deal will see Hon Hai acquire more than 10 percent of Sharp and almost half of its LCD business, allowing the two companies to work together to make TVs.
An analyst claims the screen for Apple's rumoured forthcoming TV will be made by Japanese tech giant Sharp.
Bears are good sleepers, what with all the hibernating they do. So what better robot animal to climb into bed with you and give you a loving little smack when you start snoring?