Latest in Acquisition

Image credit:

Foxconn investment in Sharp looking less likely due to LCD manufacturer's shrinking stock value

Share
Tweet
Share
Save

Sponsored Links

Foxconn's parent, Hon Hai Precision Industry, partnered up with Sharp earlier this year, taking a stake in Sharp's Sakai LCD manufacturing plant and investing another $850 million in the company. Unfortunately, that latter investment deal is in danger of dissolving due to Sharp's financial troubles. The Wall Street Journal reports that Sharp's shares have fallen enough in the months since the aforementioned agreement was consummated in March -- due to flagging sales and excess inventory -- that Sharp's given Hon Hai the option to back out of the deal. However, Hon Hai's still interested in buying ten percent of the Japanese company, and has expressed an interest in renegotiating the terms of the investment. So, it seems we'll have to wait and see if Sharp accepts Hon Hai's continued advances, but you can read more about the company's financial woes right now at the source below.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
Tweet
Share
Save

Popular on Engadget

Runkeeper drops its Wear OS app due to a 'buggy experience'

Runkeeper drops its Wear OS app due to a 'buggy experience'

View
Drako's GTE electric supercar will be a four-motor, 1,200HP monster

Drako's GTE electric supercar will be a four-motor, 1,200HP monster

View
Nintendo says there is no Switch exchange program

Nintendo says there is no Switch exchange program

View
IKEA creates a business unit devoted to smart home tech

IKEA creates a business unit devoted to smart home tech

View
US will reportedly give Huawei another temporary reprieve

US will reportedly give Huawei another temporary reprieve

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr