Apple Partner Renegotiates After Sharp Share Plunge

Sharp who are tipped to be making the panels for a yet to be launched Apple TV has reached agreement with long time Apple product manufacturer Foxconn Electronics who are tipped to buy 10% of the struggling Japanese panel maker.

Foxconn claims that it has reached an agreement with Sharp to renegotiate the prices for purchasing a stake in the Japanese vendor.

In a statement posted on the Taiwan Stock Exchange yesterday Foxconn said that they have started new talks with Sharp over the purchase price of the 10% share after Sharp share reported huge losses and a massive job cut plan last Friday.

The Sharp announcement sent Foxconn’s share price tumbling on Friday as the Sharp stock price dropped 65.1%.