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Report: Apple looking to purchase LCD chip supplier Renesas SP

Written by Andre Yoskowitz (Google+) @ 01 Apr 2014 16:38

Report: Apple looking to purchase LCD chip supplier Renesas SP According to the Asian Nikkei, Apple is in talks to purchase a majority stake in Japanese LCD chip supplier Renesas SP Drivers.
The company designs chips for smartphone displays, and is a joint venture between Renesas, Sharp and Taiwan-based Powerchip.

Apple is reportedly looking into buying Renesas' entire 55 percent stake in the venture for 50 billion yen ($480 million). The company had sales of 60 billion yen last year, with a profit of 6 billion yen ($58 million). If the deal goes through, Sharp will also likely sell their 25 percent stake to Apple.

If accurate, Apple is looking to complete the acquisition by the summer, keeping all of the venture's 240 employees in Japan. Renesas SP is the world's top producer of drivers and controllers for midsize LCDs, with a market share of around 32 percent. The controllers determine energy efficiency for smartphones.

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