Sharp accepts $6.2-billion takeover offer from Foxconn

Sharp has accepted a $6.2-billion takeover offer from Foxconn, the main assembler of Apple’s iPhone.

According to a report by Engadget, the offer from Foxconn beat a bid from an investment group backed by the Japanese government.

“This move could put Foxconn in a position to start making and releasing its own hardware under the Sharp brand,” stated Engadget.

“Sharp has the technology to build out the components to compete with Samsung as an Apple supplier, which means that… Foxconn can help Apple wean itself off Samsung,” stated a report by Reuters.

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Sharp accepts $6.2-billion takeover offer from Foxconn