​Foxconn to buy Sharp for 600b yen: Report

Foxconn Technology Group has reportedly put an offer in to buy Sharp, with the Japanese company expected to respond to the deal before the end of January.

Foxconn Technology Group, otherwise known as Hon Hai Precision, has reportedly offered to purchase Japanese technology company Sharp for 600 billion yen.

According to Bloomberg, Sharp is expected to respond to Foxconn's offer before the end of January.

However, a Sharp spokesperson told Bloomberg that the company does not have any comment to provide.

In August last year, there were reports speculating that the two companies were in talks for Foxconn to buy Sharp's struggling display business that has been affected by stiff competition, market fluctuations, and falling sales. At one point there was a report that Apple was also going to take part in Foxconn's investment in Sharp.

Chinese manufacturer Hisense took over Sharp's American television business units last July. Under the deal, Hisense paid $23.7 million for the full ownership of equity and assets relating to the Japanese firm's television production facility in Mexico, and rights to use the Sharp name across the United States.