Apple Insider Reports / Rumours : Buying German TV Manufacturer

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Apple (AAPL : NASDAQ : US$558.02)


Bubbling rumours reported by AppleInsider that Apple might buy German TV manufacturer Loewe for $87.3 million were dismissed, but caused Loewe’s shares to jump 30% to a 10-month high.

According to Reuters, the German company, founded in 1923 in Berlin, offers high-end home entertainment sets and has a market capitalization of 59.1 million euros. Shares rose as much as 38% to 6.25 euros, and were up 24% as of 1:59 p.m., giving it a market value of 73 million euros. In response to the gossip, a spokesman for Loewe said that management has no indication or information that Apple wants to participate in Loewe.

 Apple hasn’t commented publicly on any plans to produce televisions or acquire an HDTV maker. More rumours that Foxconn chief Terry Gou said that the company was preparing its facilities for an Apple television were also debunked.

Recently, Foxconn invested $1.6 billion in the struggling Sharp (which holds 28.8% of Loewe’s shares) to help turn around a business heading for its worst loss in a century, causing many to speculate it was hint at an Apple television in the future .