. Earth Science News .
TRADE WARS
Taiwan's Hon Hai gets Chinese green light for Sharp deal
by Staff Writers
Taipei (AFP) Aug 12, 2016


Taiwanese tech giant Hon Hai said antitrust authorities in China had approved its takeover of ailing Japanese electronics maker Sharp, clearing the last obstacle to the drawn-out deal.

The purchase, which was supposed to close last month, has reportedly been held up by China -- one of the countries that was reviewing the deal over concerns that it could lead to a monopoly on LCD screens.

Hon Hai gains Sharp's cutting-edge LCD panel technology with the $3.5-billion buyout, giving it a 66 percent controlling stake.

"Our application for antitrust review in various regions is completed," the company said in a statement to the Taiwan stock exchange late Thursday.

"Both sides will carry out the handover procedures as soon as possible according to the contract," it said.

The announcement fulfils an ambition of Hon Hai founder Terry Gou, whose firm first pursued Sharp four years ago.

Gou's company -- also known as Foxconn -- is the world's biggest electronics supplier, with Apple a key customer for smartphone components.

But the smartphone giant is squeezing its suppliers as sales of its iPhones slow, dropping 15 percent last quarter year-on-year.

Hon Hai shares slumped in Taipei Friday on weaker-than-expected quarterly earnings.

"From the results, we can see that Apple is pressuring its supply chain on prices," Fubon analysts led by Arthur Liao said in a note.

Hon Hai said Thursday that its net profit dropped 31 percent to Tw$17.7 billion ($565 million) in the April-June period, the third straight quarterly decline.

It missed the Tw$24.6 billion estimate by analysts polled by Bloomberg News.

Shares slumped 3.69 percent Friday. underperforming the benchmark index.

Analysts are expecting better performance in the third quarter, when Apple's new iPhone 7 series is rumoured to be launched.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
TRADE WARS
Samsung buys US luxury home appliance maker Dacor
Seoul (AFP) Aug 11, 2016
Samsung Electronics said Thursday it had acquired US luxury appliance maker Dacor, as part of its push towards a full production line of high-end, Internet-connected homeware. The purchase of the California-based company is the latest in a series of acquisitions by the South Korean electronics giant in recent years - including that of US home automation startup SmartThings in 2014. A Sa ... read more


TRADE WARS
Shattered glass, broken promises a year after Tianjin blasts

Use of pulsed electric fields may reduce scar formation after burns, other injuries

Lost in translation: Chinese tourist taken for refugee in Germany

Researchers work to understand causes of search and rescue in the Arctic

TRADE WARS
Scientists invent new type of 'acoustic prism'

New algorithm for optimized stability of planar-rod objects

De-icing agent remains stable at more than a million atmospheres of pressure

Living Structural Materials Could Open New Horizons for Engineers and Architects

TRADE WARS
Drought-hit Swaziland imposes four day water cuts

Why are New England's wild blue mussels disappearing?

Double whammy for important Baltic seaweed

Rising water temperatures and acidification affect important plankton organism

TRADE WARS
Arctic methane seeps host abundance of specialized life forms

NASA Maps Thawed Areas Under Greenland Ice Sheet

Antarctic sea ice may be a source of mercury in southern ocean fish and birds

Lack of water likely caused extinction of isolated Alaska mammoths

TRADE WARS
Saving bees: France's thriving city hives offer token help

California grapes threatened by giant fire

Small molecules to help make SMARTER cereals

Pesticides used to help bees may actually harm them

TRADE WARS
12 dead in Burkina Faso floods

Magma-limestone interaction can trigger explosive volcanic eruptions

Sudan issues flood warning as Nile rises

Mexico hunts for missing after landslides kill 45

TRADE WARS
Unprecedented Ethiopia protests far from over: analysts

South Sudan accepts deployment of regional force: IGAD

US, Senegal troops wind up first-ever emergency exercise

Libya unity government demands explanation over French troops

TRADE WARS
Number of neurons makes human brain powerful, not structure

UVic-led archeology team makes world-first discovery about early use of stone age tools

Researchers find evidence of animal butchering by Stone Age hominins

Fresh look at burials, mass graves, tells a new story of Cahokia









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.