Foxconn is a company that we’re sure many are familiar with. The company is probably best known for working with Apple in helping them produce and assemble the iPhone and other Apple products. That being said, it looks like Foxconn also wants in on the display business, according to a report from The Wall Street Journal.According to the report, it has been revealed by “people familiar with the matter” that Foxconn has allegedly offered Japanese display maker Sharp $5.3 billion to take over their business. Sharp has been flailing somewhat for a while now and this offer to buy them out would no doubt be welcome.
However the report claims that Japanese officials are a little wary about this as they aren’t too comfortable with the idea of the Japanese company coming under foreign control, citing Sharp’s display technology as being one of the reasons. According to industry minister Motoo Hayashi, “Japan’s technology is leading the rest of the world and we would like to help make it even more competitive.”
In fact it has been suggested that banks are currently reviewing a competing offer from Innovation Network, a Japanese-government backed investment fund. This isn’t the first time we’ve heard both Foxconn and Sharp mentioned in the same sentence, but whether or not Foxconn could end up owning the company remains to be seen, so until then take it with a grain of salt.