Hon Hai considering $1.7 billion stake in Sharp LCD business; to ask Apple to invest a ‘few hundred million’

“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.”

Read more in the full article here.

MacDailyNews Take: Sharp needs all the help they can get.

Hon Hai offers to buy Sharp’s LCD business, wants Apple funds – September 21, 2015
Apple suppliers Sharp, Foxconn in talks for LCD joint venture – August 24, 2015
Beleaguered Sharp’s problems present an opportunity for mighty Apple – May 15, 2015
Apple display supplier Sharp warns on ability to stay afloat after $1.9 billion loss – May 14, 2015
Apple iPhone display supplier Sharp boosts operating profit – August 1, 2014
Sharp dedicates entire LCD plant to Apple – June 30, 2014
Hon Hai in no hurry to finalize Sharp deal – June 26, 2013
Sharp to replace chairman, president after losses – May 14, 2013


Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.