Industry news

Japan Display (JDI), an LCD panel supplier for Apple, may release a portion of its shares to Sharp, now a subsidiary of Foxconn Electronics, allowing Foxconn to indirectly land display panel orders from Apple, according to a Chinese-language Economic Daily News (EDN) report.

The Innovation Network Corporation of Japan (INCJ), a government-backed organization which currently holds a 39.2% stake in JDI, is said to have an interest in inviting Sharp to join JDI in order to help the Japan-based flat panel maker to tide over its financial woes.

JDI posted a loss of JPY31.8 billion (US$316.19 million) in fiscal 2016 which ended March 31, 2016 and also a loss of JPY11.7 billion in the latest quarter ended June 30, 2016.

A team-up between JDI and Sharp will enable Foxconn to reach its long-term goal of receiving flat panel orders from Apple, said the paper.