Sharp Stories February 26, 2016

AAPL: 96.91

0.15

Foxconn acquisition team “went berserk” when they learned of potential Sharp liabilities, deal in doubt

Plans for iPhone assembler Foxconn to acquire Sharp, allowing it to move into making displays for future devices, now appear in significant doubt. Initially reported in Japan as a done deal, the WSJ quickly reported that Foxconn was “delaying” signing – and the same source today reports that talks have broken down.

Sharp Corp on Friday scrambled to salvage a sale to Taiwanese electronics assembler Foxconn as its stock plunged and investors questioned whether the companies could restore trust to make their proposed marriage work after an 11th-hour breakdown in talks … 

Sharp Stories February 24, 2016

AAPL: 96.10

1.41

Update: The WSJ reports that the deal is not yet certain. Sharp may come with some potential financial risks, which Foxconn is evaluating before it actually signs the deal.

Foxconn Technology Group said Thursday it is delaying the signing of a definitive takeover agreement with Sharp Corp. due to new details that the Japanese electronics maker disclosed a day earlier.

Foxconn didn’t elaborate in its statement, but people familiar with the matter said that the Taiwanese iPhone assembler is putting the Sharp deal on hold after reviewing the Japanese firm’s future financial risk. The people said Foxconn received a list of about ¥350 billion yen worth of “contingent liabilities” from Sharp on Wednesday.

Contingent liabilities are costs that a company might face in the future, based on the outcome of lawsuits, accounting changes, supply contracts or other uncertainties.

Last month it was reported that Apple manufacturer Foxconn had bid $5.3 billion to acquire Japanese display maker Sharp, who has faced numerous financial and manufacturing difficulties over recent years. Now, Japanese news outlet Nikkei Asian Review reports that Sharp has accepted an offer from Taiwan’s Hon Hai Precision Industry, better known as Foxconn, for $6.2 billion.

expand full story

Sharp Stories January 21, 2016

AAPL: 96.30

-0.49

Apple manufacturer Foxconn bids $5.3 billion to acquire display maker Sharp

iPhone manufacturer Foxconn has posted a $5.3 billion bid to buy Sharp, the Japanese display manufacturer who has faced financial difficulties in recent years. iPhone displays are currently manufactured by Sharp, Samsung and LG and assembled at Foxconn’s plant. A successful Sharp purchase puts Foxconn in the position to make iPhone display components, going beyond assembly.

Sharp Stories December 14, 2015

AAPL: 112.48

-0.70
Image Credit: Maurice Tsai / Bloomberg
Comments (13)

According to a report out of Bloomberg, Apple has opened a secret production laboratory in northern Tawain to focus on developing new display technologies. The report claims that the lab, located in Longtan, has at least 50 engineers and various other employees working to develop iPhone and iPad displays.

expand full story

Sharp Stories September 23, 2015

AAPL: 114.32

0.92

According to a report from Nikkei Asian Review, Apple manufacturing partner Foxconn has proposed to purchase Sharp’s LCD business. The deal would see Foxconn hold a majority stake in the company, while Apple would also come on board as an investor. The exact breakdown of the partnership between Foxconn and Apple in purchasing Sharp’s LCD business is unclear at this point, but Apple already controls a major portion of the business…

expand full story

Sharp Stories August 20, 2015

AAPL: 112.65

-2.36

Supply chain sources cited by Digitimes back a KGI report that the iPad Pro is expected to begin production in September, ramping up into mass production from October. While Digitimes has a spotty track record, this report is more specific than many, providing details of display suppliers for the new device.

The device will enter production by the end of the third quarter and go into mass production in the fourth. Sharp will provide Open Cell LCD displays while [Foxconn subsidiary] GIS will provide GF touch panels.

Samsung Display and TPK will be secondary suppliers, with TPK responsible for touch modules and Samsung for displays as well as LCD assembly … 

expand full story

Powered by WordPress.com VIP