Sharp Electronics Corpration 2015 CES Press Conference

Foxconn, the company Apple uses to build its iPhones, has reportedly made a bid to buy Sharp. If you're unfamiliar, among its other businesses, Sharp has often been tapped to provide its IGZO displays for Apple iPads. Seems like a pretty good fit to us.

Foxconn offered about $5.3 billion for Sharp, Marketwatch said Thursday. Foxconn could potentially take Sharp's display business and provide the panels right to Apple and other firms, potentially cutting out other competitors such as LG and Samsung, which also provide displays to the iPhone maker. One Japanese official cited by Marketwatch didn't sound optimistic about the sale and handing over of advanced technology to China.

"Japan's technology is leading the rest of the world and we would like to help make it even more competitive," Japan's industry minister Motoo Hayashi said.

Sharp may be pushed into a sale, however, given the company's massive debts owed to creditors.