Tag Archives: hon hai precision industry

Hon Hai Precision sees profits surge in Q3

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The two-headed beast that is Foxconn / Hon Hai has just released its latest financials, showing that the oft-troubled manufacturer has seen profit margins jump around two percent. It brought in $24 billion (NT$ 711.0 billion) in net sales, generating a net profit of $1.3 billion (NT$ 30.2 billion). At the end of September, it had $1.4 billion stashed in the bank, and the company has said it is striving to enforce "social and environmental responsibility," as it should, really.

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Hon Hai Precision sees profits surge in Q3 originally appeared on Engadget on Wed, 31 Oct 2012 09:07:00 EDT. Please see our terms for use of feeds.

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Sharp takes out $4.6 billion loan while it continues restructuring

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Much of the business news out of Japan from Sharp hasn't been good, but for now at least it's worked out a loan agreement to keep rolling. It's still pursuing a deal with manufacturer Hon Hai Precision Industry / Foxconn that would provide a much-needed injection of capital, but those talks have reportedly stalled. Until something happens there it has a 360 billion yen ($4.6 billion) syndicated loan worked out with a couple of Japanese banks that runs until June 30th 2013. We're still not sure how Sharp will proceed with all this, but hopefully an agreement can be reached that brings its sweet IGZO LCD tech and any other new screens it will be showing off at CEATEC next week to more devices.

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Sharp takes out $4.6 billion loan while it continues restructuring originally appeared on Engadget on Fri, 28 Sep 2012 01:14:00 EDT. Please see our terms for use of feeds.

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Sharp mortgages itself to the hilt just to keep going

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Sharp mortgages itself to the hilt to raise the funds necessary to keep going

Sharp has mortgaged its offices and factory buildings in order to raise the cash it needs to stay in business, according to Reuters. It's cut a deal with banks for nearly $2 billion in short-term credit secured on its assets -- including the factory that reportedly produces displays for the iPhone. Sharp had pinned its hopes on cash from Hon Hai, but the Chinese giant is apparently delaying the money with the aim of gaining more control over Sharp's business. In response, Sharp has pledged to send president Takashi Okuda to meet Hon Hai's Terry Gou in Taipei -- just as soon as it's scraped together the air-fare.

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Sharp mortgages itself to the hilt just to keep going originally appeared on Engadget on Thu, 06 Sep 2012 06:41:00 EDT. Please see our terms for use of feeds.

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Foxconn investment in Sharp looking less likely due to LCD manufacturer’s shrinking stock value

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Foxconn investment in Sharp looking less likely due to LCD manufacturer's shrinking stock valueFoxconn's parent, Hon Hai Precision Industry, partnered up with Sharp earlier this year, taking a stake in Sharp's Sakai LCD manufacturing plant and investing another $850 million in the company. Unfortunately, that latter investment deal is in danger of dissolving due to Sharp's financial troubles. The Wall Street Journal reports that Sharp's shares have fallen enough in the months since the aforementioned agreement was consummated in March -- due to flagging sales and excess inventory -- that Sharp's given Hon Hai the option to back out of the deal. However, Hon Hai's still interested in buying ten percent of the Japanese company, and has expressed an interest in renegotiating the terms of the investment. So, it seems we'll have to wait and see if Sharp accepts Hon Hai's continued advances, but you can read more about the company's financial woes right now at the source below.

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Foxconn investment in Sharp looking less likely due to LCD manufacturer's shrinking stock value originally appeared on Engadget on Mon, 06 Aug 2012 17:50:00 EDT. Please see our terms for use of feeds.

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Sharp reportedly getting cozy with Hon Hai Precision, helping to make phone and tablet LCDs in Chengdu

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If we believe Japan's Nikkei, the decision by Hon Hai Precision Industry (that is, Foxconn's daddy) to buy a stake in Sharp was really just the start of a long, torrid love affair in LCD production. While Hon Hai is getting the rosy side of the deal for Sharp's TV-oriented Sakai plant, it's now thought to be paying Sharp for display technology that would go into a new factory in Chengdu for small- and medium-sized LCDs used for smartphones and tablets. If all dovetails as nicely as the two would like, the joint venture would see advanced mobile displays manufactured on the cheap -- the best of both worlds. Suffice it to say that there's a few companies that might be interested, as clients like Apple are no strangers to Chengdu. Before you let visions of IGZO-based LCDs on every iPad and iPhone dance through your head, though, remember that neither Hon Hai nor Sharp has confirmed anything -- and that the plant wouldn't be up and running until 2013 at the earliest, even if everything's in sync.

Sharp reportedly getting cozy with Hon Hai Precision, helping to make phone and tablet LCDs in Chengdu originally appeared on Engadget on Thu, 24 May 2012 15:48:00 EDT. Please see our terms for use of feeds.

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