Apple News

FoxConn Replaces Sharp, Apple Gets Worried

It seems that Apple is not coming in the right context of the business. One after another there is something every time which is bothering Apple. In the latest news one of the Apple manufacturers of the Apple display has been finally taken over. Sharp which was one of the largest display suppliers of the display for the Apple Company has been taken over by another company making display known to be Foxconn. The company has formally announced that the 12 member board team of the sharp company will be stepping down from their respective position once the formal process of the acquisition is taken care off. The new management of the sharp board will be shrinking form 13 members team to the small team of 9 members out of which 6 will be only appointed by Foxconn.

FoxConn Replaces Sharp, Apple Gets Worried

Sharp was a big display partner for the Apple and the latest acquisition of the company could be a problem situation for Apple. It will be certainly impacting their business and the rising demands of the iPhone in the market. Sharp reported a net loss of ¥256 billion ($2.36 billion) for its fiscal year which has recently ended in March. Apple’s 6 series was a hit for all the companies, Apple never expected such a poor performance of their iPhone 6 series in the market. Due to the slowdown in the sales, Apple had to cut down on the process of the production of the devices. This in turn was a bigger hit on the companies who used to produce the display for the devices of the Apple iPhone. Japan display has also declared a net loss in billions for the current fiscal year. The losses incurred by the supplier partners have put down a dual burden on Apple. The first burden is to meet the demand and the next burden is to also improve the sale simultaneously.

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