Rumor has it that Apple Inc. (NASDAQ:AAPL) might buy up German tech company Loewe AG (ETR:LOE) (FRA:LOE) but the latter company refuses to confirm if that rumor is true. Instead, the spokesman for the company Roland Raithel emailed the message that his company does not want to take part of the rumor. Apple won’t talk about the rumor either.
Loewe has been failing financially. Just last January they shared a fiscal 2011 loss of 10.5 million Euros on sales of 274 million in euros. The company does expect to make a financial recovery sometime in 2012.
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It was recently reported that Apple will debut a television set in the next year or so. AppleInsider reported that a final decision would be made later on this week at Loewe.
Apple is currently considered the world’s most valuable company. There top selling products include the iPhone 4s and iPad 3. These tablet-based products have revolutionized the way people use technology while increasing the demand for more mobile-based products and services. Former CEO Steve Jobs admitted that he eventually wanted to create an Apple television set that was similar in design to his iOS products.
Loewe is a European company that makes high definition television sets. Today, the company’s shares increased up to 22 percent (about 5.55 euros) after the report broke out.
It’s possible that Apple and Loewe are in the talks of a potential acquisition but right now it’s just talk. Both companies want to talk things out and figure out what’s best for both parties before making an official decision. Apple has had a history of keeping acquistions and buy-ups a secret, a decision that may pit shareholders against them and make them question their comments.
If Apple chooses to buy up Loewe, it probably has something to do with their plans to make their own television in the near future.