Foxconn was on the verge of buying troubled Sharp when the deal met a roadblock at the last minute. Sharp disclosed more than $3.1 billion in liabilities (debt, tax claims, and intellectual property damages) that threw the negotiations into disarray, according to sources cited by the Wall Street Journal. The entire value of the deal […]
Foxconn expects to seal a takeover deal with Sharp by the end of February. Executives from both companies met on Thursday and agreed on a number of items, but didn’t sign any final agreements. Foxconn has been courting Sharp for a while now, and has offered $5.5 billion to buy the company. Sharp is also […]
Sharp is favoring an acquisition offer from Foxconn over a potential rescue from Japanese investors. Sharp has lost market share in the consumer electronics business over the last few years while prices for its display panels have sunk. The two combined have put Sharp in a precarious position; it has already been bailed out once. […]
A fire at a Chinese factory used to manufacture iPhones has resulted in no injuries and has not affected production, according to a report. The Foxconn facility, located at Zhengzhou in Henan province, had to deal with a small fire on on the roof on Sunday night, though the manufacturer claims no employees were harmed by […]
Foxconn has offered to buy Sharp for $5.3 billion, reports the Wall Street Journal. Foxconn’s offer arrives just as Sharp is weighing a buyout offer from Innovation Network Corporation of Japan. Sharp, known for its LCD displays and IGZO technology, has required multiple bailouts over the last few years as weak financials plague its ability […]
The bidding war for Fuhu, the maker of children’s tablets that filed for Chapter 11 bankruptcy in early December, has begun. The hedge fund founded by Australian golfer Greg Norman, Great White Shark Opportunity Fund LP, made a $10-million bid for the El Segundo manufacturer of the popular Nabi tablet on Wednesday. The offer tops […]
Google has purchased a number of communications-based patents from Foxconn for an undisclosed sum. Foxconn, based in China, manufactures devices for companies such as Apple. In addition to manufacturing, the company has its own research division and patented technologies. According to the Wall Street Journal, Foxconn is one of the top patent holders in the […]
John S. Chen, the man put in charge of BlackBerry after the ouster of former CEO Thorsten Heins, has made his position permanent. “John said that he would be BlackBerry’s CEO until the company is back on solid financial footing,” said a company spokesperson to the New York Times. “The search for a CEO has […]
Mozilla and Hon Hai Precision Industry, better known as Foxconn, confirmed that the two companies will soon launch a mobile device. Mozilla distributed invitations to a press event scheduled for June 3, which is when the two companies are expected to more formally announce their partnership alongside the new device. The device will run Mozilla’s […]
Microsoft and Foxconn parent company Hon Hai have signed a worldwide patent licensing agreement that places the manufacturer underneath Microsoft’s patent portfolio umbrella for devices running the Android and Chrome OS. The agreement covers patent usage in smartphones, tablets, and televisions. While specifics of the agreement are not available, Microsoft will reportedly receive royalties from […]
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