Sharp has been struggling for years and now chatter from Japan indicates that there’s a bidding war going on for the ailing company.
Interestingly, Foxconn is said to have made a $5.1 billion bid. Sharp is one of Apple’s main display suppliers and, of course, Foxconn is Apple’s one of primary manufacturers. Foxconn chairman Terry Gou bought 38% of Sharp’s LCD business back in 2012.
The Chinese company isn’t alone though, the Innovation Network Corporation of Japan (a state-controlled fund) has also made an offer.
The dollar amount isn’t clear and it may turn out not to matter - the INCJ is interested in keeping Sharp ownership inside Japan (Sharp lenders allegedly want the same thing). The fund has already invested in Japan Display Inc - a joint operation of former Sony, Toshiba and Hitachi businesses.
Speaking of, INCJ may also be interested in buying the electric appliances division of Toshiba. This could be part of a larger plan to pull another JDI and combine the electric appliances of Sharp and Toshiba.
Back in 2013 Samsung made a $111 million investment in Sharp (buying 3%) as it too sources parts from the Japanese company but so far Samsung’s name isn’t mentioned in the bidding war.
They are definitely very different...
people in Hong Kong and Macau speak Cantonese. Not the same as Mianland Chinese Mandrain. Food also is huge different.
Canada, US and UK are all English then? They look all the same and all speak the same language. https://www.youtube.com/watch?v=MZqVv2wj6C4