Foxconn Looking for Apple’s Funding in Order to Buy Sharp’s LCD Business
Foxconn seems to be looking into buying Sharp’s LCD business, but it will do that with the aid of Apple. The Chinese company is looking for Apple’s assistance, of the financial kind to make this happen.
Foxconn wants to stop a merger between Sharp and rival Japan Display, that would reduce the Apple screen supply access, while also increasing the costs. Market observers claim that Sharp is having problems with falling LCD panel prices to smartphone vendors, especially in China. Nikkei is reporting that Foxconn considered purchasing a large stake in Sharp’s LCD business for a while now.
The aim is to purchase Sharp’s 38% stake in a display factory that the two companies jointly operate in Sakai, Japan. In March rumors of this kind appeared once more, as Foxconn’s officials tried to get a role in the Japanese firm management. Cross licensing and the transferal of patents are also important here. Sharp rejected Foxconn’s offer as far as we know.
via patently apple