Foxconn buys Sharp for $6.2 billion

Foxconn buys Sharp for $6.2 billion
The board of Sharp has reportedly agreed to be acquired by contract manufacturer Foxconn for $6.2 billion. The latter is the company that takes components from around the world, and assembles them into the product you know as the Apple iPhone. The company also manufacturers many other products for a list made up of some of the biggest names in consumer electronics.

Rumors that Foxconn would make a play for Sharp started last month with speculation about a $5.3 billion transaction. Sharp also was supposedly being looked at by government-run fund Innovation Network Corp. of Japan. The fund was thought to have put together a $2.5 billion bid for Sharp that would have added a $2.67 billion cash infusion, and a $1.78 billion line of credit.

As one of Apple's main suppliers of iPhone displays, Sharp's purchase by Foxconn would give the manufacturer easy access to one of the parts it needs to have in stock while manufacturing the Apple iPhone.

We expect that full details about the acquisition, including an estimated closing date, will be announced in the days ahead.

source: Nikkei via Gizmodo

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47 Comments

1. Hoggington

Posts: 356; Member since: Feb 23, 2016

Candy Crush is bought for 5.9 billion Sharp is bought for 6.2 billion There is something very very wrong about this.

2. sgtdisturbed47

Posts: 959; Member since: Feb 02, 2012

Candy Crush is a massive cash cow, mostly due to advertising.

3. Hoggington

Posts: 356; Member since: Feb 23, 2016

Of course. My point still stands. Just a sad day in tech when those two are worth the same.

13. joey_sfb

Posts: 6794; Member since: Mar 29, 2012

Read this!http://fortune.com/2015/11/03/activision-blizzard-king-digital/ Not just Candy Crush, Activision buy up Candy Crush maker King Digital. They want the mobile talent pool to make games for Activation own IPs.

17. Aploine

Posts: 444; Member since: Oct 24, 2013

I hope Foxconn to make the Sharp brand name sharp again. I have some good music memories with its products

44. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

No. The value of hardware is software. This is why Microsoft/Bill gates got over on IBM. When Gates told IBM, we wanted to retain ownership of our software and licensed it to you and be able to sell it to other outfits, IBM thought all the money is in hardware which is false. if I buy the computer I want, it will last at least 5 years before I need another, especially a desktop where I can swap out older parts for newer ones without buyign a new computer. So once you selel a computer, until you sell 5 years worth of hardware to create that upgrade cycle that comes every year, the money isn't in the hardware. The money is in the software because if one company makes lots of software, they stand to make far more money. After all, Microsoft made way more money with Windows than IBM made with hardware. In fact, it pushed IBM out of the PC business and Dell if basically gone too. Phones are cheaper, thus the cost to upgrade more often is cheaper. Especially since now you only need to pay for 50% the price before you upgrade again. Which means in one year I can buy 2 phones for the price of one. But many aren't goign to do that, so hardware will only get sold so many times while software can be sold forever, because its never really outdated.

6. GreekGeek

Posts: 1276; Member since: Mar 22, 2014

Candy Crush is a fad...like Angry Birds What's dangerous is, there'll be always a more popular game that'll come along the way. It's a Cash Cow , for now...it might not be the case 1 or 2 years down the line

19. Aploine

Posts: 444; Member since: Oct 24, 2013

You don't know that filarako. Its kind of games run for decades and it's highly addictive

31. mixedfish

Posts: 1542; Member since: Nov 17, 2013

It's irrelevant whether King Games is relevant is 1 or 2 years. Activision has huge amounts of cash and profit, they needed to show their investors that they are willing to shake things up and spend the money to make a splash. And the stock prices agree.

9. Af1rPA

Posts: 712; Member since: Jun 12, 2014

Candy Crush is worth more than HTC

21. ibend

Posts: 6747; Member since: Sep 30, 2014

and blackberry... and nokia... combined... maybe :-/

41. Rafishant

Posts: 390; Member since: Oct 13, 2015

It is true for HTC when its market value is merely $1.5 billion. BlackBerry market cap is $4 billion. Nokia market cap after aquiring Alcatel-Lucent is $42 billion. What are you talking about??

26. DoggyDangerous

Posts: 1028; Member since: Aug 28, 2015

sad news. Another japanese company is gone. Japan is going down the road.

45. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

It is hard to believe how Japan is no longer the Asian choice in tech toys anymore. When you think of the big names of Japan that have died like Sega, Sony, Sharp and others, you can see how much has changed. But this is the USA fault. They let China buy up our debt and in return, we have to let them provide us with most of your electronics. Even Samsung and LG Korea is feeling the Chinese pinch. In 5 years, China will be providing the USA with 80% of its products. This will be specially true with Republicans in office. In less than 20 years, China will own the USA and will likely buy the USA out and make it part of the China Republic.

51. hulk_14

Posts: 72; Member since: Dec 14, 2013

China just have intelligent and wise government, not like Japan or Europe. USA has at least a lot of IT Software companies like Microsoft, IBM, Apple, Oracle, Google, Facebook and CPU producers like Intel, AMD and Qualcomm, it has also Lockhead Martin etc. Europe has almost nothing: only Nokia + few companies from Germany.

33. Totse2k15

Posts: 474; Member since: Feb 11, 2014

Sad, ikr...

40. zeeBomb

Posts: 2318; Member since: Aug 14, 2014

JDI display for the next iPhone?

48. S.R.K.

Posts: 678; Member since: Feb 11, 2016

Thier games have crappy cheap kids graphics.

49. Sealblaighter

Posts: 413; Member since: Jan 26, 2014

Sharp did not sell it's whole company. They sold only 65.9% of it.

5. HugoBarraCyanogenmod

Posts: 1408; Member since: Jul 06, 2014

Very proud to see more company convert to Chinese. Sharp is gaining my support

10. AkoSiKuting

Posts: 88; Member since: Dec 09, 2015

Foxconn is Taiwanese FYI

11. joey_sfb

Posts: 6794; Member since: Mar 29, 2012

The owner of Foxconn is Taiwanese.

24. neops

Posts: 297; Member since: Jan 28, 2014

If the factory is in China then less jobs for Taiwanese people. But better luck for them because of less suicidal workers

12. Kruze

Posts: 1285; Member since: Dec 30, 2014

TAIWAN NUMBER ONE!

22. ibend

Posts: 6747; Member since: Sep 30, 2014

Taiwan is china FYI.. "Republic of China" to be more precise..

30. jojon

Posts: 421; Member since: Feb 11, 2014

..tell that to the Taiwanese, see how you go with that.

34. catze86

Posts: 731; Member since: Dec 07, 2015

Obviously Taiwanese or Hong Kong people will offended. They will say they are not the same as the 'low' Main Landers.

35. catze86

Posts: 731; Member since: Dec 07, 2015

Obviously Taiwanese or Hong Kong people will offended. They will say they are not the same as the 'low' Main Landers.

7. jesus_sheep

Posts: 279; Member since: Apr 18, 2015

More bad news. RIP Sharp. It was nice knowing you.

15. cheetah2k

Posts: 2146; Member since: Jan 16, 2011

Sharp was already on the way out. Have been for quite some time. I was surprised Japan let it go, after being an icon of their country for so long.. Turn of the tides. Japan Inc has been blown

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