Strategy in TECH...
JOLED, a Japanese manufacturer of OLED-based panels and products that was formed by the merger of the OLED divisions of both Panasonic and Sony, filed for bankruptcy protection in the Tokyo District Court on Monday. According to the filing, the company reported that it has debts totaling ¥33.7 billion ($257 million).
Although the odds appear stacked against Taiwan’s Foxconn in its bid to acquire Sharp Corp., new reports suggest that CEO Terry Gou has intensified his efforts to win the troubled Japanese giant by meeting directly with Japanese government officials and offering new promises. In a report out of Japan by Reuters, sources are saying that Gou will do whatever it takes to win the company, including detailing more of his plans to assuage concerns and eliminate opposition to the deal.
Hon Hai Precision Industry Co., the largest Apple, Inc. supplier that is better known as Foxconn, has upped the ante according to a report in the Wall Street Journal, doubling their initial offer to a big $5.3 billion. Yet many in Japan are predicting that the Taiwanese company will lose to another bid rumored to be only half as much. How is that possible?
