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Foxconn takes over Japan's electronics giant Sharp

2016-07-01 02:12:36| BBC News | Business | UK Edition

Taiwan's Foxconn officially takes over Japan's Sharp on Friday - how does Japan feel about losing ownership of one of its most well-known electronics brands?

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Foxconn replaces '60,000 with robots'

2016-05-25 14:22:12| BBC News | Business | UK Edition

Apple supplier Foxconn replaces 60,000 factory workers with robots, according to Chinese media reports.

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Microsoft sells feature phone business to Foxconn

2016-05-18 10:44:00| Telecompaper Headlines

(Telecompaper) Microsoft has agreed to sell its feature phone business to FIH Mobile, the contract manufacturer owned by Hon Hai/Foxconn Technology Group, and Finnish company HMD Global for USD 350 million. As part of the deal, FIH Mobile will also acquire Microsoft Mobile Vietnam, the company's factory in Hanoi, Vietnam, and take over 4,500 employees. Microsoft said it will remain present in the smartphone market, selling its own Lumia devices and licensing Windows 10 Mobile to other manufacturers. As part of the deal, Microsoft will transfer substantially all of its feature phone assets, including brands, software and services, care network and other assets, customer contracts, and critical supply agreements. The transaction is expected to close in the second half of 2016, subject to regulatory approvals.

Tags: business phone feature microsoft

Foxconn agrees Sharp takeover for JPY 389 billion

2016-03-30 12:14:00| Telecompaper Headlines

(Telecompaper) Sharp and Hon Hai Precision Industry have reached agreement on the latter's investment in Sharp. An initial agreement was first announced at the end of February, and it took a month for the companies to agree to the final terms. Under the deal, Hon Hai and its unit Foxconn will subscribe to JPY 288.8 billion in new common shares issued by Sharp, giving the Taiwanese company a 66 percent stake. The price per share is JPY 88, a significant discount to Sharp's more recent range of around JPY 130. Hon Hai will also acquire JPY 100 billion in new class C preferred shares in Sharp. These can be converted at a ratio of 1:100 from 01 July 2017. Further details of the agreement, such as the role of Sharp's creditors, were not disclosed.

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