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Apple supplier Foxconn could still take a bite out of Sharp

Hon Hai might still be keen on cash-injection deal

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Sharp has said that it is still in talks with Foxconn for an investment that would make the Apple supplier the largest shareholder in the firm.

The struggling Japanese company already struck a deal with Foxconn, also known as Hon Hai Precision Industry, for a stake in exchange for some much-needed cash. But Hon Hai backed off when Sharp's shares took a dive and the Taiwanese firm has since been pushing for changes in Sharp's management.

But Sharp's president Takashi Okuda said in Osaka today that Sharp was still talking to Hon Hai about sorting out their differences, Reuters reported.

Sharp agreed a deal with Qualcomm at the end of last year for the firm to invest up to $120m and work with Sharp through its Pixtronix subsidiary on making screens with the Japanese firm's IGZO technology.

Okuda also said that Sharp's operating profit for the last quarter of 2012 was better than the company had expected, as more large household appliances were sold and there was even a slight uptake in the problem industry of LCD TVs. ®

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