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Foxconn wants to buy the Sharp for $5.3 billion

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Foxconn wants to buy the Sharp for $5.3 billion

The collector iPhone – Taiwanese company Foxconn has offered to buy the assets of the Japanese Corporation Sharp. According to The Wall Street Journal, citing its own sources. Foxconn has offered Sharp about 625 billion yen ($5.3 billion)….

The iPhone manufacturer – Foxconn has offered to buy the assets of the Japanese Corporation Sharp, according to The Wall Street Journal, citing its own sources.

sharp-1-1 Foxconn wants to buy the Sharp for $5.3 billion

Foxconn has offered Sharp about 625 billion yen ($5.3 billion). Earlier media wrote that the final proposal of the company’s investment in Sharp may be a sum of 700 billion yen ($5.9 billion), was about 500 billion yen ($4,24 billion).

It is known that Sharp also claims state Japanese investment Fund Innovation Network (INCJ), which is considering the allocation of 300 billion yen ($2.55 billion) deal. The news Agency said that Sharp is exploring the sale of a stake in its unit for the production of LCD panels to Foxconn or Fund INCJ.

According to some reports, Foxconn and Sharp are negotiating the signing of a partnership transaction for several months. The most likely investor is called INCJ, which is planned to combine the display with Sharp business controlled by the Fund screens manufacturer Japan Display.

sharp-2 Foxconn wants to buy the Sharp for $5.3 billion

Sharp together with banks Mizuho and Bank of Tokyo-Mitsubishi UFJ – its two main lenders – will study both proposals and by the end of January 2016, develop a plan for the recovery of his business.

“We are negotiating with several companies within the business change in liquid crystal displays. We do not comment on private negotiations”, – said the representative of Sharp.

In an attempt to improve their financial situation Sharp in 2015, announced the sale of the headquarters, the withdrawal from the North American television market, the reduction in the production of solar panels and reducing headcount by 10%.

According to experts, the main reason for the financial failure of Sharp lies in the fact that in the last 10 years, the company actively invested in capacity expansion, without paying attention to innovation, which negatively affected the profitability of the business. Sharp recently lowered the Outlook for operating revenue for the current year from 80 billion yen to 10 billion.

Source: WJS

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Hey Guys i am from Koppal, Karnataka. I love to blog things relating to tech specially Apple and Google. A Gadget Lover and Owns a Tech Store "digital point"

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