Foxconn finally agreed to a deal to buy Sharp Corp., and it will do so at a steep discount from its original offer. Foxconn will spend $3.5 billion to take over the struggling Japanese consumer electronics behemoth, ending weeks of public negotiations. Foxconn had committed to pay roughly $6.2 billion for a 66 percent stake in Sharp last month before it reportedly discovered more than $3 billion in undisclosed liabilities, prompting it to shelve the deal.
Foxconn agreed to terms to take over Sharp, committing to pay roughly $6.2 billion in exchange for a 66 percent stake in the venerable Japanese electronics vendor. The offer is a 32 percent discount from Wednesday's closing price of Foxconn shares, Bloomberg reported, and the move marks a rare case of a foreign buyer picking up an iconic brand.
Both Bloomberg and The Wall Street Journal reported that Foxconn has bid more than $5 billion to take over the struggling Japanese electronics vendor Sharp Corp. Sharp, which makes TV sets and LCD panels, has struggled financially and is reportedly due to pay back several billion in borrowings in March.
Shares of Apple dipped in pre-market trading Wednesday morning following multiple reports that the company has decreased orders of the iPhone during the past few months.
Nokia is jumping back into the consumer device market by licensing its brand to Foxconn to create a tablet called the N1 running Google's Android platform.
BlackBerry CEO John Chen said the company is not going to get out of the devices business, despite giving an interview in which he indicated that it might be a possibility.
BlackBerry CEO John Chen said he is feeling good about the company's turnaround prospects despite continued financial losses, sagging revenues and weaker smartphone shipments.
BARCELONA, Spain--BlackBerry CEO John Chen officially unveiled the company's next two smartphones, a mid-range touchscreen phone called the Z3 and another mid-tier phone with a physical Qwerty keyboard called the Q20.
BARCELONA, Spain--Microsoft announced a number of new firms are planning to use its Windows Phone software, many of which were initially skeptical about the mobile OS. The announcement of new partners comes just ahead of Microsoft finalizing its $7.4 billion deal for the handset division of Nokia, the largest maker of Windows Phones.
Foxconn is perhaps best known for assembling Apple iPhones and iPads, but according to the Wall Street Journal the company is also working with Apple rival Google on something out of the ordinary: robotics.