TOKYO -- Apple supplier Alps Electric says it is bringing forward its merger with subsidiary Alpine Electronics to capture synergies but the truth may be that it wants to offset a hit from poor iPhone X sales.
Alps, which provides image stabilization parts for iPhones, may also be seeking to fend off pressure from Hong Kong-based activist investor Oasis Management. The fund holds a near 10% stake in Alpine, which makes navigation systems and other electronic devices for vehicles, and is balking at the plan.
