At the Hon Hai Precision’s annual shareholders’ meeting, Foxconn CEO Terry Gou reportedly urged consumers to wait for the launching of the iPhone 5 while pointing out that the next generation iPhone will put the Samsung’s Galaxy S3 to shame. The CEO, however, did not divulge details about the purported iPhone 5. China Times quoted Gou saying “Samsung has a track record of snitching on its competitors” and that he has made it his lifetime goal to defeat Samsung. During the meeting, Gou also announced a joint venture deal with Japanese consumer electronics magnate Sharp that, according to the CEO, will allow Foxconn to beat Samsung in three to five years.

Gou said that the new partnership will help Foxconn upgrade its competitiveness in the tight display panel business. Foxconn will reportedly acquire a 46.5 percent stake under his own name in Sharp’s Sakai-based 10th-generation LCD panel plant for $800 million. Interestingly, Gou mentioned that the Sakai plant also has an exclusive agreement with Corning, the maker of Gorilla Glass, and said that competitors will not be able to secure any such material if they wished to. “I respect the Japanese and especially like their execution and communication styles. Unlike the Koreans, they will not hit you from behind,” Gou asserted.

Filed in Apple. Read more about foxconn, Galaxy S3, iPhone 5 and Samsung.

Key SpecsiPhone 5Galaxy S3
Status ReleasedReleased
Resolution 1136x6401280x720
Display Diagonal 4"4.8"
Processor/Soc Name A6, 2-core, 1.3 GHzExynos 4412, 4-core, 1.4 GHz
Max. Total Storage Capacity 64 GB128 GB
Megapixels 8 MP8 MP
Battery Capacity (mAh) 1440 mAh2100 mAh
Street Price $549$290
Complete product data Apple iPhone 5 Full specsSamsung Galaxy S3 Full specs
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