In late January it was reported that Apple supplier Foxconn made a $5.3 billion bid to purchase Japanese electronics maker Sharp. Today, Sharp has decided to accept an updated $6.2 billion takeover offer from Foxconn, reports Nikkei Asian Review.

sharp
Sharp intends to restructure its operations under the umbrella of Foxconn, although arrangements of the purchase have not yet been revealed. Sharp was facing either a buyout offer from Foxconn or support from the Innovation Network Corporation of Japan, a state-backed fund that offered a roughly $2.7 billion injection and a $1.8 billion credit line.

Currently, Sharp supplies Apple with LCD displays for iPhones in addition to being a leading television maker and selling audio equipment, home appliances and more. The company has fallen on hard times recently, incurring a net loss of nearly $1.9 billion in the fiscal year ending March 2015. It also must repay $4.3 billion it had borrowed by March; Foxconn reportedly was willing to take on the debt.

It's unclear what Foxconn's plans for Sharp are, but the company could sell Foxconn-made electronics under the Sharp brand. The acquisition's impact on Apple may only be near-term, as Apple is rumored to be turning to Japan Display, LG and Samsung for OLED displays in iPhones as early as 2018.

Update: Shortly after the its acquisition of Sharp was announced, Foxconn put the deal on hold after "discovering previously undisclosed liabilities." Foxconn said it would not sign off on the deal until terms had been clarified. At issue is hundreds of billions of yen in liabilities which Sharp will need to resolve before the deal is finalized.

Tags: Foxconn, Sharp

Top Rated Comments

Tubamajuba Avatar
114 months ago
Foxconn should just make their own phone and cut out Apple. They're getting middled.
Yep. Poor Foxconn, making money from a phone that just keeps selling and selling.
Score: 12 Votes (Like | Disagree)
rulymammoth Avatar
114 months ago
Foxconn should just make their own phone and cut out Apple. They're getting middled.
Well, they're doing what any company with their resources would do. Move down the supply chain where the margins are higher.
Score: 4 Votes (Like | Disagree)
macs4nw Avatar
114 months ago
Oh boy, how times have changed
That's for sure! Being big or well entrenched, by itself doesn't cut it anymore. At 103 years old, Sharp is one of the oldest consumer-electronics manufacturers around.

This just goes to show how intense and cut-throat the tech industry has become. Unless you're continuously moving forward, you risk becoming irrelevant and falling on hard times, no matter who you are.
Score: 3 Votes (Like | Disagree)
R3k Avatar
114 months ago
Sharp. Thanks for all the memories.
Score: 2 Votes (Like | Disagree)
Crosscreek Avatar
114 months ago
Interesting acquisition with interesting possibilities for all parties.
Score: 2 Votes (Like | Disagree)
ryuworks Avatar
114 months ago
Apple is partly behind this takeover, some years back there were reports that Apple wanted a proxy takeover of Sharp via Foxconn when this whole thing started. This move can only be beneficial to Apple, as its number one contractor now has rights to IGZO and other display techs that Sharp owns, when in previous years Apple had to content and negotiate with a not-so-friendly Sharp to make them license IGZO tech to other Apple contractors.
Score: 1 Votes (Like | Disagree)

Popular Stories

iPhone SE 4 Thumb 1

iPhone SE 4 With Apple's Own 5G Modem 'Confirmed' to Launch in March

Tuesday November 19, 2024 12:12 pm PST by
Barclays analyst Tom O'Malley and his colleagues recently traveled to Asia to meet with various electronics manufacturers and suppliers. In a research note this week, outlining key takeaways from the trip, the analysts said they have "confirmed" that a fourth-generation iPhone SE with an Apple-designed 5G modem is slated to launch towards the end of the first quarter next year. In line with previo...
airtag purple

AirTag 2 Rumored to Launch Next Year With These New Features

Sunday November 17, 2024 5:18 am PST by
Apple released the AirTag in April 2021, so it is now three over and a half years old. While the AirTag has not received any hardware updates since then, a new version of the item tracking accessory is rumored to be in development. Below, we recap rumors about a second-generation AirTag. Timing Apple is aiming to release a new AirTag in mid-2025, according to Bloomberg's Mark Gurman....
Magic Mouse Next to Keyboard

No, Apple CEO Tim Cook Didn't Say He Prefers Logitech's MX Master 3 Over the Magic Mouse

Sunday November 17, 2024 3:03 pm PST by
While the Logitech MX Master 3 is a terrific mouse for the Mac, reports claiming that Apple CEO Tim Cook prefers that mouse over the Magic Mouse are false. The Wall Street Journal last month published an interview with Cook, in which he said he uses every Apple product every day. Soon after, The Verge's Wes Davis attempted to replicate using every Apple product in a single day. During that...
Generic iOS 18 Feature Real Mock

Apple Releases iOS 18.1.1 and iPadOS 18.1.1 With Security Fixes

Tuesday November 19, 2024 10:10 am PST by
Apple today released iOS 18.1.1 and iPadOS 18.1.1, minor updates to the iOS 18 and iPadOS 18 operating systems that debuted earlier in September. iOS 18.1.1 and iPadOS 18.1.1 come three weeks after the launch of iOS 18.1. The new software can be downloaded on eligible iPhones and iPads over-the-air by going to Settings > General > Software Update. Apple has also released iOS 17.7.2 for...
at t turbo indicator iphone 16 pro max v0 8hrh7w5f3w1e1

AT&T Turbo Indicator Showing Up in iPhone Status Bar for Subscribers

Wednesday November 20, 2024 3:42 am PST by
AT&T has begun displaying "Turbo" in the iPhone carrier label for customers subscribed to its premium network prioritization service, according to reports on Reddit. The new indicator seems to have started appearing after users updated to iOS 18.1.1, but that could be just coincidence. Image credit: Reddit user No_Highlight7476 The Turbo feature provides enhanced network performance through ...
iPhone 17 Slim Feature Single Camera 1 Redux

'iPhone 17 Air' Rumored to Surpass iPhone 6 as Thinnest iPhone Ever

Monday November 18, 2024 1:07 pm PST by
In a research note with Hong Kong-based investment bank Haitong today, obtained by MacRumors, Apple analyst Jeff Pu said he agrees with a recent rumor claiming that the so-called "iPhone 17 Air" will be around 6mm thick. "We agreed with the recent chatter of an 6mm thickness ultra-slim design of the iPhone 17 Slim model," he wrote. If that measurement proves to be accurate, there would be ...
bug security vulnerability issue fix larry

Make Sure to Update: iOS 18.1.1 and macOS Sequoia 15.1.1 Fix Actively Exploited Vulnerabilities

Tuesday November 19, 2024 10:52 am PST by
The iOS 18.1.1, iPadOS 18.1.1, and macOS Sequoia 15.1.1 updates that Apple released today address JavaScriptCore and WebKit vulnerabilities that Apple says have been actively exploited on some devices. With the JavaScriptCore vulnerability, processing maliciously crafted web content could lead to arbitrary code execution. The WebKit vulnerability had the same issue with maliciously crafted...