Arab Today, arab today foxconn asks apple to join bid
Last Updated : GMT 22:52:01
Arab Today, arab today
Arab Today, arab today

To buy Sharp's LCD ops

Foxconn asks Apple to join bid

Arab Today, arab today

Arab Today, arab today Foxconn asks Apple to join bid

Taiwan's Foxconn
Tokyo - Arab Today

Taiwan electronics giant Foxconn has proposed taking over troubled Japanese behemoth Sharp's display business, the Nikkei business daily reported on Monday, and has urged Apple to join the deal.

Under the new proposal, Foxconn -- an Apple supplier -- would take a majority stake in Sharp's liquid crystal display company, the Nikkei said.

The company has also urged Apple to make an investment as part of the proposed deal, according to the report.

The Nikkei did not clarify details of the proposal and the extent of Apple's possible involvement.

But it said Sharp's major lenders had estimated the firm's LCD operations to be worth around 300 billion yen ($2.5 billion) earlier this year.

The fall in price of small- to medium-size displays for smartphones could depress the price tag if negotiations drag on for a long time, the Nikkei added.

Foxconn -- which is the trading name for Hon Hai Precision Industry -- has also expressed its desire to purchase Sharp's 38 percent stake in a major display factory that the two firms jointly operate in Sakai city in western Japan, the Nikkei said.

The proposals would give Sharp "an opportunity to offload operations carrying a heavy downside risk", while letting it stay involved in the business and avoid massive layoffs, the Nikkei said.

Embattled Sharp -- also an Apple supplier and a leader in screens for smartphones and tablets -- has failed to move past years of gaping deficits, partly caused by steep losses in its television unit, which has been hammered by competition from lower-cost rivals, particularly in South Korea and Taiwan.

The Aquos brandmaker has been selling assets and going through painful restructuring to wipe away huge losses.

Earlier this year, Sharp said it was cutting 10 percent of its 49,000 positions worldwide as part of a turnaround plan.

The reported proposal came amid speculation that Sharp is in tie-up talks with the public-private Innovation Network Corporation of Japan, which is the top shareholder of rival Japan Display, the Nikkei said.

Some Sharp insiders favour the Japanese fund in order to keep the electronics maker's technology away from non-Japanese businesses, the Nikkei said.

But Apple might support the Foxconn proposal to prevent a merger between two Japanese display firms, which would reduce the US company's supplier options and make controlling costs more difficult, the Nikkei said.
Source: AFP

    

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today foxconn asks apple to join bid Arab Today, arab today foxconn asks apple to join bid

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Turkey says ends its military operation

GMT 07:53 2017 Thursday ,30 March

Turkey says ends its military operation
Arab Today, arab today Wadih al-Azzazi calls for activating news coverage

GMT 19:29 2017 Thursday ,30 March

Wadih al-Azzazi calls for activating news coverage

GMT 06:33 2017 Friday ,24 March

MP reveals reasons behind approval of IMF loan

GMT 06:23 2017 Thursday ,23 March

Diplomat denies any formal decisions

GMT 12:21 2017 Wednesday ,22 March

Economic expert call Tunisian government

GMT 19:15 2017 Tuesday ,21 March

EFB ranks first in world food banks

GMT 14:47 2017 Tuesday ,21 March

Minister stresses his country's aspiration

GMT 20:24 2017 Monday ,20 March

MP reveals details of British delegation's visit

GMT 16:14 2017 Saturday ,18 March

Egyptian professor calls to get rid of corruption
View News in Arabic - Business: أخبار الاقتصاد
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today 'Underwater wasteland' worries

GMT 10:32 2017 Thursday ,30 March

'Underwater wasteland' worries
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Singer Rowida Attiya will issue a new song

GMT 07:38 2017 Tuesday ,28 March

Singer Rowida Attiya will issue a new song
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 07:50 2017 Thursday ,30 March

Breaking trans barriers one barbell

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday