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

52. ShaikhJGI

Posts: 361; Member since: Jan 10, 2014

Worst part is Nokia is bought for Half of that I mean Comeon.. It worth lot more than that..:(

43. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Only 6B? Apple should have bought Sharp, since Sharp typically makes the displays for Apple. Wow, Foxconn wants to make hardware and not just assemble someone else. That shoudl give them some money, as Apple still uses Sharp displays

36. Rocket

Posts: 748; Member since: Feb 24, 2014

just sharp displays or the whole company?

38. SIGPRO

Posts: 2819; Member since: Oct 03, 2012

Not the whole company PA is spreading bullsh!t

32. SIGPRO

Posts: 2819; Member since: Oct 03, 2012

Please PA do some resarch before posting an article! Foxconn did not buy Sharp! Foxconn bought shares in Sharp for 65,9% they do not own Sharp for the fully 100% so that means they did not bought the whole company! Stop spreading bull!

29. catze86

Posts: 731; Member since: Dec 07, 2015

I hope it is not Foxconn Aquos in the future. It is not so cool

18. Sealblaighter

Posts: 443; Member since: Jan 26, 2014

Damn!!! Bad news!

28. ibend

Posts: 6747; Member since: Sep 30, 2014

its a good news actually, sharp will go bankrupt if they didnt do this... and maybe foxconn will release their own smartphone, continuing sharp aquos line..

50. Sealblaighter

Posts: 443; Member since: Jan 26, 2014

Anyway, Sharp did not sell it's whole company, only 65.9%, so I believe they will still continue to make smart phones.

14. mcyener

Posts: 6; Member since: Nov 03, 2015

I think, this may be one of the most critical moves in the industry. Foxconn’s desire was not new and in the past there were some rumours that Apple might be the invisible hand behind this investment. It is so clear that screen quality is the major weakness of iphone against Samsung’s Amoled. Currently, Sharp is behind Samsung and LG in OLED race, but it has very valuable knowhow and patent portfolio, so fund from Foxconn can help to produce competitive product. If rumours are real, Apple may have found the screen which desperately needed for a long time. This move will also give Apple much more freedom for screen supply instead of rely on Samsung and LG.

16. cheetah2k

Posts: 2342; Member since: Jan 16, 2011

TBH Sharp's screen tech is well behind the times. But then again, that's all iPhone users expect hahahaha

8. Arte9000v2

Posts: 19; Member since: Feb 24, 2016

they can never match and cant even come close to SAMOLED.........................Maybe after a million years they could ;)

20. Bernoulli

Posts: 4364; Member since: Sep 01, 2012

Would that make Nokia NOKIALED since they were first to introduce an AMOLED display?

23. ibend

Posts: 6747; Member since: Sep 30, 2014

SAMOLED is SuperAMOLED not SamsungAMOLED

25. TerryTerius unregistered

Pretty sure he/she was talking about their idea of quality, nothing to do with chronology.

27. DoggyDangerous

Posts: 1028; Member since: Aug 28, 2015

nokia was the first to use amoled display. They are not a display manufacturer, so they just used it first.

47. S.R.K.

Posts: 678; Member since: Feb 11, 2016

So who owns Amoled?

7. jesus_sheep

Posts: 279; Member since: Apr 18, 2015

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

15. cheetah2k

Posts: 2342; 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

5. HugoBarraCyanogenmod

Posts: 1412; 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: 438; 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.

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: 975; Member since: Feb 02, 2012

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

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