Foxconn Electronics, its Cayman Islands-registered subsidiary Foxconn (Far East), Singapore-based Foxconn Technology Pte. and SIO International Holdings will together acquire 3.282 billion new common shares to be issued by Sharp to expand paid-in capital at JPY88 per share and a total price of JPY388.812 billion (US$3.42 billion) for a combined stake of 66.00%, according to Foxconn Electronics.
Times of India — TOKYO: Sharp and Taiwan’s Foxconn are set to sign a takeover deal next week after repeated delays, with the two sides set to agree on a smaller bailout than originally planned for the troubled Japanese electronics maker, two sources familiar with the talks said on Saturday. The two companies will hold board meetings on Wednesday to approve the deal and officially sign a deal the following day, said the two sources with direct knowledge of the talks.
Digi Times — Foxconn Electronics (Hon Hai Precision Industry) has issued a company filing with the Taiwan Stock Exchange (TSE) saying its negotiations with Sharp over a takeover deal continue, in response to various media reports indicating the company is seeking to reduce the price it would pay for Sharp by up to 20%.
Digi Times — Foxconn Electronics is undertaking its due diligence at Sharp’s factories for a planned bailout for Sharp and both sides may sign the deal this week, according to Japan-based Nikkan Kogyo. However, other media outlets are reporting that Foxconn is looking for additional support from Sharp’s creditors.
Times of India — KYO/TAIPEI: Sharp and Foxconn agreed on Friday to extend a deadline for takeover talks by 1-2 weeks, a person familiar with the matter said, after the Taiwanese firm had put the deal on hold to clarify “new material information.” Sharp, a loss-making Japanese display maker, announced on Thursday it had decided to sell a two-thirds stake to Foxconn, in a deal worth an estimated $5.8 billion.
IT News — Foxconn has put its takeover of Sharp on hold after discovering previously undisclosed liabilities, sources said, throwing the acquisition in doubt and sending shares of the Japanese electronics maker tumbling. Loss-making Sharp yesterday announced it had agreed to be bought by Foxconn, a contract manufacturing firm formally known as Hon Hai Precision Industry Co and major Apple supplier.
Times of India — TOKYO: A Japanese state fund is making a final effort to secure a takeover of Sharp as the ailing electronics maker considers a higher $5.8 billion offer from Taiwan’s Foxconn, criticising the composition of the company’s board, sources said. Innovation Network Corporation of Japan (INCJ) officials are taking issue with two of Sharp’s board members who they believe have a conflict of interest as they represent a fund that holds preferred shares in the electronics company, according to the sources familiar with the fund’s complaint.
China Tech News — Foxconn’s parent company Hon Hai plans to add investment in the Czech market of CZK2.5 billion, which is about CNY657 million, by 2018. And the company will build its first European big data R&D and design center in the country. According to reports in Taiwanese local media, Hon Hai will set up a joint venture named SafeDX with Czech’s KKCG and each party will hold a 50% stake.
Want China Times — Hon Hai Precision Industry Co (Foxconn), the world’s largest contract electronics maker, was the largest invention patent applicant in Taiwan in the third quarter of this year, according to the Intellectual Property Office under the country’s Ministry of Economic Affairs.
Want China Times — Advanced Semiconductor Engineering (ASE), the world’s largest integrated circuit packaging and testing services provider, has taken legal action to try to stop a special shareholders meeting scheduled by Siliconware Precision Industries to let electronics manufacturing giant Hon Hai overtake ASE as its biggest shareholder.
Digi Times — TOKYO: Japanese electronics maker Sharp has entered negotiations with Taiwan’s Hon Hai Precision Industry Co for a tie-up over Sharp’s struggling display business, the Asahi newspaper reported on Saturday. Investors and analysts have urged Sharp to overhaul its liquid crystal display (LCD) and consumer electronics divisions. Chief executive Kozo Takahashi initially resisted but last month said he was open to major restructuring, including some kind of strategic deal for its LCD business.
Want China Times — Taiwan-based Hon Hai Precision Industry (Foxconn) and Pegatron have received large orders from Apple to assemble the next generation of the iPhone, according to a market analyst. Kuo Ming-chi, an analyst with Taipei-based KGI Securities, said in a research report that Hon Hai, the world’s largest contract electronics maker, is expected to become the sole assembler of the next 5.5-inch iPhone model.
Want China Times — Taiwanese contract electronics manufacturer Hon Hai Precision Industry (Foxconn) has joined a US$25 million financing scheme made by French Internet-of-Things (IoT) and cloud solution provider Actility, reports our Chinese-language sister paper China Times. Actility builds its IoT platform on the Long Range Wide-area network (LoRaWAN), which allows low bit rate communication from and to connected objects and was developed and standardized by the LoRa Alliance.
Want China Times — Taiwan-based Hon Hai Precision Industry Co (Foxconn), the world’s largest contract electronics maker, said Thursday that it is planning to replace 30% of its workforce with robots within the next five years to improve manufacturing efficiency. The initiative will allow Hon Hai to replace monotonous jobs with robots and allocate some of the 30% to higher-level tasks such as developing software, engaging in e-commerce business and designing human-computer interfaces to improve artificial intelligence and robot management, company chairman Terry Gou said at a meeting with shareholders.
Want China Times — Japanese electronics manufacturer Sharp said it will not refuse financial help from Taiwanese contract electronics manufacturer Hon Hai even though the two companies failed to reach partnership agreement three years ago, reports our Chinese-language sister paper Commercial Times. In March 2012, Sharp was said to have rejected Hon Hai in its bid to acquire a 9.9% stake in Sharp for 66.9 billion yen (US$559 million) which would’ve allowed Hon Hai to have a say in the Sharp’s management.
Taiwan Semiconductor Manufacturing (TSMC) and Hon Hai Precision Industry are among the top firms globally in terms of the number of patents obtained in the United States this year, the only two Taiwanese companies to gain that distinction, according to a recently released list. TSMC, the world’s largest contract chip maker, was granted 620 patents in the US between January and May this year, ranking 16th on the list of the “most innovative” companies worldwide.
Apple will work with Foxconn Technology Group–known as Hon Hai Group in Taiwan–to promote its Asia-Pacific data center located in China’s Guizhou province, Chinese media reported Thursday. Lisa Jackson, Apple’s vice president of environmental initiatives, said the company attaches great importance to big data industry, with emphasis on data security and the values of data mining concepts.
Taiwan’s Hon Hai Precision Industry, the world’s largest contract electronics maker, is accelerating its efforts to develop its e-commerce platform, as part of a plan to expand into businesses other than manufacturing. Hon Hai, also known as Foxconn Technology Group, announced May 25 that its subsidiary Hongfujin Precision Industry (Shenzhen) had acquired an import company, Shenzhen Fuxuntong Trading. The announcement of the 80 million yuan (US$12.9 million) investment came the day after Hon Hai’s FoxconnMall.com, a one-stop business-to-business e-commerce portal, went online.
FIH Mobile, a subsidiary of Hon Hai Precision Industry, said Wednesday that the company will work with a Chinese photo software developer to penetrate emerging Southeast Asian countries and India. FIH said that it is planning to set up a joint venture with China-based smartphone photo software developer Meitu, taking aim at the booming smartphone markets in Southeast Asia and India.
Taiwan-based telecom operator Asia Pacific Telecom and 4G service operator AMBIT, both affiliates of electronics contract manufacturing giant Hon Hai (Foxconn), will jointly invest NT$2 billion (US$65 million) for 4G base stations and equipment in Taiwan, reports our Chinese-language sister paper Commercial Times. Four major telecom equipment providers — Nokia, Alcatel-Lucent, Ericsson and Huawei — are among the bidders for this tender. The report said Huawei and Ericsson did not offer prices.
TAIPEI–The world’s biggest electronics manufacturer for hire, Hon Hai Precision Industry Co. (鴻海), posted higher sales for the first quarter of this year, compared with the same period last year, due to solid demand for two of the products it makes — Apple Inc.’s new iPhone models — the iPhone 6 and the iPhone 6 Plus, analysts said Saturday. They said that after Apple launched the two new iPhone models in September, strong demand extended to the first quarter of this year from the fourth quarter of last year, helping Hon Hai, which has been dubbed one of the most important “Apple concept stocks” in Taiwan, record a more than 14 percent year-on-year sales increase for the three-month period.
Taiwan’s Hon Hai Precision and South Korea’s SK C&C, a subsidiary of SK Group, will establish a joint venture to provide information technology services in mainland China. Hon Hai said that the joint venture will first provide information technology services to Hon Hai’s plants in mainland China and offer integrated security systems to other companies in mainland China. According to Hon Hai, the joint venture, which will be formally launched in May 2015, will also explore information technology business opportunities in medical and financial sectors.
Taiwan-based Hon Hai Precision Industry wants to participate in the management of Sharp if it is to invest in the struggling Japanese electronics maker, Hon Hai chairman Terry Gou said in a report in Toyo Keizai. In an interview published in the Japanese weekly Friday, Gou said Hon Hai is ready to support Sharp financially, but the support is contingent on being able to join in the Japanese company’s management. Gou said he has not met with Sharp president Kozo Takahashi in a year, but if the Sharp executive wanted to see him, he would be able to fly to Japan at any time.
A retail subsidiary of Hon Hai Precision Industry, the world’s largest contract electronics manufacturer better known by its trading name Foxconn, plans to open 20 stores in China for technology innovators known as “makers,” by the end of the year, a company executive said on Sunday. According to Wang Jung-ching, general manager of Big Cyber, a new retail brand under Hon Hai’s Cybermart consumer electronics chain in China, his firm will open new stores in Beijing and Guangzhou in April and May after already a first store in Shanghai.
TAIPEI/TOKYO: Taiwan’s Hon Hai Precision Industry is considering joining efforts to help rescue Japanese electronics maker Sharp, the company said in a statement late on Friday. Hon Hai’s willingness to ‘participate’ in Sharp has never been limited to investing, but could include technology licensing transfer and other forms of cooperation, according to the statement from Hon Hai, which is also known as Foxconn.
New Taipei District prosecutors on Thursday summoned a Hon Hai Precision Industry executive for questioning on allegations that he had stolen 4,000 iPhone 6 handsets. Initial findings of an investigation revealed that the suspect surnamed Tsai is a veteran executive at Hon Hai, the world’s largest electronics contract manufacturer which manufactures many Apple products.
TAIPEI–Hon Hai Precision Industry Co., the world’s largest contract electronics maker, posted a record high in sales in 2014, with market analysts attributing the growth to an increase in orders from U.S. consumer electronics giant Apple Inc. The strong sales for 2014 are expected to help Hon Hai break a record in net profit, analysts said.
With Internet of things (IoT) applications growing popular, many Taiwan-based ODMs and EMS providers are planning to establish fund-raising platforms to attract partnerships with designers worldwide, according to sources from the upstream supply chain. Foxconn Electronics (Hon Hai Precision Industry) established the kick2real website in April, while Quanta Computer is also considering establishing a similar platform.
Due to the fast sales of Apple’s new products, Hon Hai achieved combined operating revenue of NTD468.999 billion, which was about CNY94 billion, in October 2014, representing a year-on-year increase of 22.58% and an increase of 12.9% compared with September 2014. Hon Hai revealed that its combined operating revenue in October 2014 was the second highest monthly revenue in the company’s history, which was only second to its NTD490.931 billion revenue in December 2013.
TAIPEI–Telpa, a Turkish mobile phone supplier, is planning to work with Taiwan-based high-tech giant Hon Hai Precision Industry Co. (鴻海) to roll out mobile phones and tablet computers in Turkey, according to Reuters. Cited in the report, Telpa Chief Executive Sebahattin Yaman said that while Hon Hai, also known as Foxconn, plans to invest in Turkey to produce cellphones and tablets, the Taiwanese firm is also considering moving production of other gadgets to the country.