Foxconn Technology Co., Ltd.Grey Market
Wed, Dec. 7, 8:47 AM
- Foxconn (OTC:FXCOF) could take over Austrian IT group S&T, after Foxconn unit Ennoconn raised its holding in S&T to 29.4% in October.
- "If we develop poorly and our share price falls significantly I expect that Foxconn will do a full takeover," weekly magazine WirtschaftsWoche quoted Hannes Niederhauser as saying in an interview.
Wed, Dec. 7, 3:34 AM
- "While the scope of the potential investment has not been determined," iPhone assembler Foxconn (OTC:FXCOF) is in in preliminary discussions to expand its operations in the United States.
- On Tuesday, President-elect Donald Trump announced that Softbank's Masayoshi Son would invest $50B in the U.S. and create an additional 50,000 new jobs, raising new hopes of a Sprint deal with T-Mobile.
- Previously: Report: Apple weighs making iPhones in U.S. (Nov. 18 2016)
Fri, Nov. 18, 3:22 AM
- "Apple (NASDAQ:AAPL) asked both Foxconn (OTC:FXCOF) and Pegatron (OTC:PGTRF), the two iPhone assemblers, in June to look into making iPhones in the U.S.," sources told the Nikkei Asian Review. "Foxconn complied, while Pegatron declined to formulate such a plan due to cost concerns."
- The issue is of particular relevance due to Donald Trump's numerous comments saying he'd try to force Apple into manufacturing its products in the U.S.
Mon, Oct. 31, 11:44 AM
- Though not the first time wireless charging functionality for next-year's iPhone (NASDAQ:AAPL) iteration has been suggested, the Nikkei Asian Review updates on the prospects, reporting such modules have undergone manufacture at Foxconn (OTC:FXCOF).
- Yield rate (ratio of satisfactory units), however, is cited as a major determining factor in whether or not the capability is introduced within the 2017 lineup of iPhone devices.
- Despite a new range not expected to launch until next fall, anticipation for it to incorporate revolutionary new features has been building for many months regardless of the release of this year's iPhone 7 and 7 Plus. That being the case, look for further indicators and additional rumors regarding characteristics to surface as the timeline moves closer to that point.
Thu, Oct. 20, 1:18 PM
- Foxconn (OTC:FXCOF), while highly involved in many aspects of smartphone and other electronics manufacturing, has historically been relatively limited within the chip marketplace. It's now, though, reportedly looking to delve into design and production at a Shenzhen, China facility, where application-specific integrated circuit chips are highlighted to be of particular interest, to be created in collaboration with ARM Holdings (OTCPK:SFTBY).
- Apple comprises 50% of Foxconn's yearly revenue, so an extension into chip components could potentially present an opportunity to not only generate further sales from its largest customer, but allow for its scope of capability to be viewed as increasingly streamlined across the industry.
- See: Apple opening R&D center in Shenzhen, China
Mon, Aug. 15, 6:46 AM
- M&A activity is kicking off the headlines this week with an array of deals expected to be announced shortly.
- Among them: Mid-America Apartment (NYSE:MAA)- Post Properties (NYSE:PPS), Sharp (OTCPK:SHCAY)- Foxconn (OTC:FXCOF), Honeywell (NYSE:HON)- JDA Software, Xylem (NYSE:XYL)- Sensus USA and KKR- Entertainment One (OTC:ENTMF).
- The technology sector is still leading the global M&A market in 2016, but the real estate segment is not far behind.
- Will 2016 outpace 2015's record in terms of acquisitions and deal value?
Mon, Aug. 15, 2:37 AM
- Building on Friday's gains, Sharp (OTCPK:SHCAY) started the week with a 10% advance after the company said Foxconn (OTC:FXCOF) completed its $3.8B takeover.
- "With the risk of insolvency removed, the shares have a strong upward momentum," said Hideki Yasuda, an analyst at Ace Research Institute. "How far they climb will depend on how Foxconn will choose to restructure Sharp."
- The company also received a $3B commitment line from its lenders.
Fri, Aug. 12, 2:51 AM
- Shares in Sharp (OTCPK:SHCAY) surged almost a fifth overnight after Chinese antitrust authorities approved Foxconn's (OTC:FXCOF) $3.8B takeover of the struggling Japanese display maker.
- The green light from China was the final hurdle to clear the acquisition, which will see Tai Jeng-wu, a close aide of Foxconn founder Terry Gou, replace Sharp's current chief executive Kozo Takahashi.
Thu, Aug. 11, 12:31 PM
- Anti-monopoly regulators in China have allowed Foxconn (OTC:FXCOF) to proceed with taking a 63.6% stake in Japanese company Sharp (OTCPK:SHCAY). Approval of the deal in Taiwan was granted back in June.
- The companies "will now move to complete the transaction in accordance with our agreement as soon as possible."
- Foxconn is a major Apple supplier and is looking to fortify its position through gaining access to Sharp's sophisticated panel technology.
Wed, Jun. 1, 3:55 AM
- Taiwanese regulators have cleared Foxconn's (OTC:FXCOF) $3.5B purchase of a 63.6% stake in Sharp (OTCPK:SHCAY), paving the way for a transformation at the Japanese display maker.
- Earlier this month, Foxconn founder Terry Gou said there would have to be layoffs to turn around the ailing company, but pledged that wages would rise and profit-sharing would again be the norm.
Wed, May 25, 7:46 AM
- Foxconn (OTC:FXCOF) says it will not sell Sharp's (OTCPK:SHCAY) solar power unit, amid concerns from business partners over a possible closure of the struggling division.
- "We want to let you know that we are totally committed to this business," the company said in a letter.
- Foxconn plans to seal a $3.5B deal by the end of June that would give it a two-thirds stake in Sharp.
Wed, May 18, 9:27 AM
- Microsoft (NASDAQ:MSFT) is bailing out on Nokia's feature phone business, selling its assets there to FIH Mobile (a unit of Foxconn (OTC:FXCOF)) and HMD Global for just $350M.
- FIH Mobile takes over Microsoft Mobile Vietnam in the deal, and that unit's 4,500 employees will join FIH Mobile or HMD Global or transfer.
- All feature phone assets are transferring, but Microsoft will continue work on Windows 10 Mobile and supporting Lumia phones from OEM partners.
- Microsoft had a feature phone brand license until 2024 but is electing to get out of the business now. Speculation points to the prospect of a Surface Phone launch in the coming year.
- MSFT is -0.5% premarket.
- Now read Microsoft Should Say Goodbye To Lumia, Let Another Firm Carry That Brand »
Fri, May 13, 3:31 AM
- Looking to steer a big turnaround, Sharp (OTCPK:SHCAY) has named the vice-chairman of Taiwan's Foxconn (OTC:FXCOF) as its new chief executive.
- Tai Jeng-Wu, a close aide of Foxconn's founder Terry Gou, assisted in the company's negotiations and eventual purchase of Sharp for $3.5B in March.
- With his new role, Tai will be the first outsider to run the century-old Japanese group and one of nine new board members.
Wed, Mar. 30, 5:20 AM
- Capping weeks of drama and intense negotiations, Foxconn Technology (OTC:FXCOF) has finally clinched a deal to take over Sharp (OTCPK:SHCAY), but with a lower price tag than their original deal.
- The Taiwanese firm will pay about $3.5B for a two-thirds controlling stake in the embattled Japanese company, nearly $900M less than its initial offer.
- Sources have also told the Yomiuri newspaper that Foxconn is planning to overhaul Sharp's management including replacing its CEO.
- Previously: Foxconn to agree on Sharp takeover, overhaul management (Mar. 30 2016)
Wed, Mar. 30, 3:11 AM
- Foxconn (OTC:FXCOF) is set to agree on deal to acquire Sharp (OTCPK:SHCAY) today, gaining a big discount to its original offer after a month of wrangling about potential liabilities.
- According to Reuters, the Taiwanese firm is likely to cut its initial ¥489B ($4.3B) offer for a two-thirds stake by about ¥100B.
- Sources also told the Yomiuri newspaper that Foxconn is planning to overhaul Sharp's management including replacing its CEO.
- Previously: Foxconn-Sharp deal price likely to fall by more than $2B (Mar. 29 2016)
Tue, Mar. 29, 3:16 AM
- The boards of Sharp (OTCPK:SHCAY) and Foxconn Technology (OTC:FXCOF) will meet separately tomorrow to discuss a revised takeover package that could slash at least ¥245B ($2.2B) off the price tag for the troubled Japanese electronics maker, WSJ reports.
- Over the past month, Foxconn has sent hundreds of people to take stock of everything from Sharp's information-technology infrastructure to its inventories, uncovering issues related to factory overcapacity and China sales that helped convince Sharp's lenders to agree to revised terms.
- Previously: Sharp, Foxconn push to close deal after delays (Mar. 28 2016)