Foxconn Has Reportedly Secured A Deal To Buy Sharp For $6.2 Billion

It looks like Foxconn has won the race to buy troubled electronics maker Sharp after Japanese news agency Nikkei, which has a track record of getting major scoops right, reported a deal worth 700 billion yen ($6.2 billion) has been agreed. Samsung and state-backed Japanese fund Innovation Network Corp are also said to have lodged bids.

Sharp has been in various stages of financial trouble over the past few years, but the company still has a visible consumer electronics business — most notable in TVs — and it supplies a range of components for leading tech companies . The latter part is where Foxconn’s interest almost certainly lies, particularly since Sharp is a top producer of display panels, which happens to be one area where Foxconn (also known as Hon Hai Precision)…

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