Toshiba, who is on the verge of announcing a record loss and plans another round of layoffs, is far from the only Japanese giant who is stumbling. A new analysis by the Nikkei suggests it’s possible that Sharp Corp. may not have enough cash to survive the winter – despite the fact that multiple potential suitors are swirling around them in a head-spinning series of negotiations that, so far, are unproductive. And the news of these new troubles have surfaced after they successfully concluded negotiations for a ¥200 billion bank bailout in April.
Foxconn Technology Group, a division of Hon Hai Precision Industry Co. and a key supplier to major brands like Apple, Inc. and HP (formerly Hewlett Packard), had five former employees indicted by Taiwanese prosecutors on Wednesday in a major kickback scheme involving illicit payments from suppliers. The announcement of the scandal is sure to cause significant embarrassment for the company.
See more on this dramatic announcement from the Taipei District Prosecutors Office… [Read more…] about Five Former Foxconn Employees Indicted in Kickback Scandal
Foxconn Technology Group, a Taiwanese company with manufacturing plants in China, and the world’s largest manufacturer of electronics – is looking to build one or more factories here in the U.S. The company, mostly known as the primary manufacturer of Apple’s popular iPhone, is in negotiations with Arizona and Colorado, according to a report by Bloomberg. But four other states have thrown their hats into the ring as well.
See more on this turn of events, a Taiwanese company building factories in the U.S…. [Read more…] about Taiwan’s Foxconn Looks to Build Factories in the U.S. – Six States Compete for Selection
Taiwan’s Hon Hai Precision Industry Co. Ltd. reported today that sales for the first quarter had dropped by 19 percent from the same period last year. Hon Hai, better known by the name of a large division called Foxconn, is a key supplier to Apple, Inc. and analysts point to this as another indicator of Apple’s slipping dominance of the smartphone business.
See more on this unexpected result… [Read more…] about Hon Hai’s Q1 Sales Drop More Than Expected, Hurt by Slipping Demand for iPhone
A story that has stunned many in Japan, the partnership between two former arch-rivals Sharp Corp. and Samsung Electronics Co., continues to churn out surprising new details of the backroom drama worthy of the most melodramatic soap opera. As the Japanese press digs up more of these stories, it is clear that Sharp – as desperate as it had become – was nervous, measured, and a little tentative in approaching the new pact.
See some of the surprising behind-the-scenes drama that is emerging from this unusual partnership… [Read more…] about New Details of Drama Emerge in Continuing Sharp & Samsung Soap Opera
*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. According to the report, Sharp will issue the shares to Samsung possibly as early as this month.
The surprise announcement signifies that Samsung will have own significant share of Sharp… [Read more…] about Samsung Takes Significant Stake in Sharp Corp.
The Nikkei in China reported today that it has learned that key Apple, Inc. supplier Foxconn Technology Group (also known as Hon Hai Precision Industry Co.) has stopped plans to expand its production capacity at its large facility in Zhengzhou, China. This is the facility that assembles smartphones such as Apple’s iPhone5 and the news has set Wall Street buzzing that this is another sign of the waning dominance of the formerly powerhouse iOS line.
Separately, Foxconn fueled the fire by additionally announcing a freeze on hiring factory workers at the plant. Reuters is reporting that the Foxconn freeze extends to all of their factories in China.
But Foxconn denies it is due to any one customer. So what’s the deal?… [Read more…] about Apple Supplier Foxconn Halts Expansion and Freezes Hiring; Sign of iPhone Slump?
The Nikkei is reporting today that Sharp Corp., the struggling Japanese flat-panel TV manufacturer, is in the final stages of negotiations to merge its television division with China’s largest personal computer manufacturer – Lenovo Group, Ltd. If successful, Lenovo could leapfrog the competition to become one of the largest television manufacturers in the world.
See more on this surprise announcement out of Japan… [Read more…] about In a Surprise Move – Sharp is Negotiating to Merge It’s Foundering TV Operations with China’s Lenovo
The Wall Street Journal is reporting today that unnamed sources are telling it that Apple has built and is testing a large screen, high definition television that it has worked closely with Asian suppliers to create. Most notably, these sources say that Apple worked closely with Hon Hai Precision Industry Co. (Foxconn) – it’s leading iPhone/iPad supplier – and Sharp Corp. – the troubled Japanese television company.
Will Apple’s iTV save Sharp?… [Read more…] about Sharp Spike in Sharp’s Prospects – Said to Working with Hon Hai on Apple iTV
Just one day after Qualcomm, Inc. announced a technology pact and investment deal with Japan’s troubled Sharp Corp., word comes out of Taiwan that Hon Hai Precision Co. Ltd. may still be interested in taking a major position in the company. According to a Taiwanese newspaper, they have been told that Hon Hai may yet invest enough to own 9.9% of Sharp – making them Sharp’s single largest shareholder – to be decided by March 31, 2013.