Feeds

iPhone-maker Foxconn not gonna save Sharp

Sharp starts making plans to save itself without help

New hybrid storage solutions

iPhone-maker Hon Hai Precision Industry, better known as Foxconn, will not come to the rescue of floundering Japanese manufacturers Sharp, says Reuters.

Sharp will have to look to itself to save its wilting electronics manufacturing business, says Reuters' unnamed source.

Sharp had asked the Taiwanese bits-maker Hon Hai for a cash infusion in return for a 9.9 percent stake in the company, but it sounds like Hon Hai has been dragging its feet and the deal is now off.

"We cannot make a plan based on something that is uncertain. For us, it's over," said the source.

The cash formed an important part of a rescue package for Sharp that will be presented to shareholders in March. Sharp has already drawn in cash from Qualcomm in a package that will see Qualcomm invest in making smartphone screens using Sharp's IZGO tech – touted as having twice the resolution of normal screens with 90 percent power savings.

Sharp will have to find the cash elsewhere or significantly restructure to make up the shortfall. The company faces falling revenues as the markets contract in its core area of TVs and PC displays, and is reeling from stiff competition from rivals such as the rampantly successful Samsung.

Sharp has posted losses every half year since September 2011. ®

The next step in data security

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.