Hon Hai

Japan's Sharp returns to profit for April-June quarter

Tokyo - AFP

Japanese electronics maker Sharp said Friday it swung back to profit for the three months to June thanks to cost-cutting efforts under Taiwan's Hon Hai. The Taiwanese company, better known as Foxconn, last August acquired the Japanese industrial mainstay which had been pummelled by huge losses and mounting debts, taking a 66 percent stake for $3.7 billion. The first foreignRead more

Apple eyes backing Hon Hai bid for Toshiba chip unit

Tokyo - Arab Today

Tech giant Apple is considering backing Hon Hai's multi-billion dollar bid for Toshiba's lucrative memory chip business, a report said Saturday. The US firm plans to financially support Taiwan's Hon Hai, which has reportedly bid some 3 trillion yen ($27.6 billion) in the initial tendering round for the memory chip business, the Mainichi Shimbun said. Apple, which uses Toshiba's memoryRead more

Google, Amazon eye Toshiba's chip unit: report

Tokyo - AFP

Google and Amazon joined a list of potential buyers eyeing Toshiba's lucrative memory chip business as the Japanese conglomerate seeks bidders to cover huge losses, a newspaper said Saturday. Toshiba has reportedly completed the first round of bidding for its prized memory chip business, seen as key for the cash-strapped company to turn itself around. Some 10 foreign companies andRead more

Sharp Shareholders OK Hon Hai Takeover Deal

Tokyo - QNA

Sharp Corp. shareholders approved a motion Thursday for the company to be purchased by Taiwan's Hon Hai Precision Industry Co., making it the first major Japanese electronics manufacturer to come under foreign ownership. Hon Hai, better known by its trade name Foxconn, is set to acquire a 66% stake in Sharp for 388.8 billion yen about ($3.7 billion) this month,Read more

Sharp posts full-year loss; Hon Hai executive to take helm

Tokyo - AFP

Japanese electronics maker Sharp said Thursday it suffered a $2.3 billion annual loss and released no forecast for the current business year as it assesses the impact of its acquisition by Taiwan's Hon Hai. The company also said that an executive from Hon Hai, the world's biggest electronics supplier, will take over as president. In March, Sharp agreed to theRead more

Hon Hai's fourth quarter net profit dips as smatphone demand slows

Taipei - AFP

Taiwan's tech giant Hon Hai said net profit dipped in the fourth quarter, hit by a slowdown in demand for smartphones as key customer Apple warns waning sales of its iPhone. Net income in October-December fell 6.67 percent to Tw$52.9 billion ($1.6 billion) while revenue slipped 4.69 percent, the company said in a statement Wednesday. Hon Hai -- also knownRead more

Hon Hai to meet press after board meeting as Sharp speculation swirls

Tokyo - AFP

Speculation swirled Wednesday that the boards of troubled Japanese electronics maker Sharp and Foxconn parent company Hon Hai are to imminently agree a multi-billion-dollar takeover by the Taiwanese company after a month of delays. The deal would be the first foreign acquisition of a major Japanese electronics firm if the two companies sign the deal on Thursday as reported. TheRead more