Apple In talks to buy display driver stake
Apple is negotiating to buy Renesas’ 55% share in Renesas SP Drivers – a jv between Renesas, Sharp and Power hip which makes LCD driver ICs, reports Japan’s Nikkei newspaper.
Renesas SP Drivers, which employs 240 people all in Japan, is said to supply all Apple’s requirement for iPhone display driver chips.
The Nikkei says that Apple is prepared to pay $483 million for the 55% stake in the company which made a profit of $74 million on sales of $740 million last year.
Sharp, which owns 25% of Renesas SP Drivers, is expected to do a deal with Apple when the Apple-Renesas deal concludes, with Sharp selling its 25% to Apple.
Powerchip holds a 20% stake in Renesas SP Drivers.Tags: Apple, Renesas