Apple Inc may invest $1 billion in Sharp Corp's Kameyama factory to secure the supply of screens for iPhones and iPads, Reuters reported quoting a sales note MF Global FXA Securities wrote on Wednesday, August 17, sending shares in the Japanese consumer electronics maker up more than 2 percent.
Sharp could not be immediately be reached as it was closed for summer holidays. A likely investment amount of around 100 billion yen ($1.3 billion) has been reported in local media since late last year.
"We think it is highly possible that Apple will make an investment in Sharp's Kameyama plant to the tune of around $1 billion in order to secure stable supply of screens for iPhones and iPads," analyst David Rubenstein said in the note.
"This would have a material impact on Sharp's profitability."
