Foxconn International Reports Biggest Financial Loss in Its History

Foxconn International Holdings Ltd. (FIH), announced today that for fiscal year 2012 the company had the biggest loss ever since it listed its stock in 2005. FIH, which says it is the world’s largest contract manufacturer of cellphones, booked a … Continue reading

Samsung Takes Significant Stake in Sharp Corp.

*STORY UPDATED BELOW* – FOXCONN ‘OFFENDED’ The Nikkei reported today that South Korea’s Samsung Electronics Company has agreed to invest ¥10 billion ($107 million) into former high-flying, now troubled Sharp Corporation as it continues to struggle to raise much-needed cash. … Continue reading

Nortek Acquires 2GIG Technologies

BREAKING NEWS Nortek, Inc. announced today that it has acquired 2GIG Technologies, Inc. from APX Group, Inc. 2GIG is a designer and supplier of residential security and home automation systems. A privately held company, 2GIG will expand Nortek’s portfolio of … Continue reading

Founder Schulze Considering Abandoning Deal for Best Buy

Multiple news outlets, including the Wall Street Journal and Reuters News Service, are reporting that Best Buy founder Richard M. “Dick” Schulze is considering abandoning his bid to take the company private. Schulze had informed the Board of Directors in … Continue reading

Pioneer Announces Q3 & 9-Month Losses; Cuts FY2013 Forecast from Profit to Loss

In what is turning out to be a very rough earnings season in Japan, Pioneer Corp. announced yesterday its results for the third quarter and nine-month periods of fiscal year 2013 which ends March 31, 2013. Both Q3 and the … Continue reading

Yamaha Board Orders Major Restructuring; Revises FY2013 Forecast Downward to Break-Even

BREAKING NEWS Yamaha Corporation announced yesterday in Japan that its Board of Directors has ordered a major restructuring of the company’s domestic operations – in one case merging eight separate operating subsidiaries into one. The company has also released results … Continue reading