Apple Inc. to acquire a controlling stake in Renesas Electronics
Apple Inc. had been in discussions to acquire a controlling stake from a Japanese venture that manufactures semiconductors for the screens of iPhones. This was according to people who were familiar with the matter, said a Reuters report. The discussion for the acquisition was said to have gotten the iPhone manufacturer under industry scrutiny.
The discussion for a controlling stake in a Japanese firm is a rare move for Apple. The move comes after rough competition to produce smartphones that have less battery consuming screens became in demand in the market. Renesas Electronics Corp, Japanese firm making advanced chips, has now become a valuable target.
Renesas has been in discussions with other firms to sell a 55% controlling stake from Renesas SP Driver, the company’s chip business arm. This was according to a source familiar with the discussion who told Reuters on Wednesday. The Japanese chipmaker company had been in losses and has now focused into restructuring its primary business unit. Meanwhile, sources have not revealed the other companies involved or the current status of the discussion.