Sharp, Foxconn in buyout talks that could reach $5.5 billion

Sharp Corp board has gathered today to weigh the bidding offers. The competition is between the Taiwanese electronics giant, Foxconn and the Japanese government-backed establishment, Innovation Network Corporation of Japan. While ICNJ has always been the favoured choice, Foxconn is giving it a stiff competition by way of doubling the offered price along with debt pay-offs and retention of management and employees.

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Mysterious Fire Spreads in Several Floors of Foxconn Facility, No Casualties Reported

Foxconn’s Zhengzhou plant of Henan province is one of the largest iPhone assemblers for Apple. A fire, originated from the central air conditioning fan and ventilation ducts on the roof on Sunday evening. Local fire safety authorities have brought the situation under control and now probing the incident to unearth the reason behind the fire incident.

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China's Foxconn overrides Japan's Innovation Network Corp. over Sharp bid

Foxconn has put forth a highly tempting offer of over $5 billion in front of the almost-bankrupt Sharp Corp, which well exceeds its current valuation at $1.8 billion. The other potential buyer, Innovation Network Corp. of Japan, who was already very confident, is not so sure of a win right now. Foxconn's bid amount not only surpasses Innovation's $2.5 billion, the Taiwanese firm has also offered to absorb all of Sharp's debts and not make any top management replacements. While the board does not want their Japanese seller to fall under any kind of foreign control, the decision needs to be based purely on deal economics and not political considerations.

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Sharp Corp explores ways on LCD biz revival, Taiwanese firm offers bid for it

Taiwan's Hon Hai Precision Industry Co has offered bid to acquire the LCD business of Sharp Corporation. However, the bidding details were not revealed. Without confirming on its plans to offload LCD business or received any bid offer, Sharp Corp continues to explore several options for reviving the trouble-prone liquid panel display business. Sharp has also asked Apple Inc for funding support. Sharp Corp has sought a $1.9-billion revival package from the banks and decided to slash 5,000 jobs as part of the cost-cutting measures. The intense competition in LCD screens for smartphones from Asian companies is taking a toll on Sharp Corp's business.

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Foxconn Technology denies termination of $1B investment in Indonesia

Foxconn, the electronics company headquartered in Taiwan, has pulled out $1B investment to Indonesia, rumors have it. But according to a report, Foxconn claims they haven't cancelled it yet.

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Foxconn Technology Group signed a $5B MOU in India to build manufacturing, R&D hub and a smart city

Foxconn, an electronic company in Taiwan with trade name Hon Hai Precision Co. Ltd., signed a memorandum of understanding with the government of India to invest $5B in manufacturing, research and development and a smart city.

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Taiwan's Innolux looks to invest in India with Hon Hai

Taiwanese panel display maker Innolux Corp (3481.TW) is looking at investing in India to expand into the subcontinent with its biggest shareholder and key supply chain client Hon Hai Precision Industry Co Ltd (2317.TW), a senior executive said.

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China to have most robots in world by 2017

China will have more robots operating in its production plants by 2017 than any other country as it cranks up automation of its car and electronics factories, the International Federation of Robotics (IFR) said on Thursday.

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Workers strike at Foxconn China factory after HP order cut: labor watchdog

More than 1,000 employees went on strike at a China factory owned by Hon Hai Precision Industry Co Ltd (2317.TW), the world's biggest electronics contract manufacturer, demanding higher wages and better benefits, a labor watchdog said on Thursday.

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Foxconn's FIH pours $2.2M into Singaporean social media firm mig33

FIH, a handset manufacturing service provider of Foxconn, poured $2.2 million into Singaporean social media site mig33 to help the latter preload its apps into tens of millions of mobile phones every month.

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Foxconn's second quarter earnings boost by 40.8% due to strong iPhone sales

Foxconn Technology Group's second quarter earnings report showed a boost of 40.8% due to strong iPhone sales and reduced costs by building factories in China.

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Chinese activist accuses Apple's supplier of environmental violations

Chinese organizations accused Apple Inc's supplier Foxconn and Taiwanese supplier UniMicron Technology Corp of environmental violations.

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