“Taiwan’s Hon Hai Precision Industry Co is considering buying a majority stake in Sharp Corp’s loss-making LCD business for up to 200 billion yen ($1.7 billion), Japan’s Mainichi newspaper said on Monday, without citing any sources,” Reuters reports.
“The newspaper said Hon Hai planned to ask iPhone maker and customer Apple Inc, which is also a client of Sharp, to invest a ‘few hundred million dollars’ to help with funding the purchase,” Reuters reports. “The Nikkei business daily had last week reported that Hon Hai had offered to buy the entire LCD business, but it did specify how much Hon Hai was willing to pay.”
Reuters reports, “In May, Sharp sought a bailout of roughly $1.9 billion from banks and promised to cut 10 percent of its staff.”
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MacDailyNews Take: Sharp needs all the help they can get.
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Apple iPhone display supplier Sharp boosts operating profit – August 1, 2014
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