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Lenovo wants a piece of Sharp

by on17 January 2013 2689 times
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Japanese Sharp could sell some plants and factories in China to Lenovo. Although there is no official information yet, Sharp is reportedly already in talks with Lenovo about the sale of the company to produce LCD TVs in Nanking and other affiliates that Sharp has in China.

Sharp has been in financial difficulties for some time and the company announced an annual net loss of $5.6 billion in November last year. After Sharp made the announced they also said that they might not be able to continue operating. Sharp has already offered their Chinese TV factory and machinery in Mexico to Foxconn, which has so far only invested in the company's factory for LCD panels in Sakai, Japan.
sharpSharp received an investment of $120 million from Qualcomm at the end of 2012, which is (like some other companies) mostly interested in the technology for IGZO screen. Additionally, the company has received $4.4 billion in loans from banks in October to pay short-term debts. The banks should earn a decent profit from this. Sharp expects to return to profitability in the second half of 2013 (at least according to financial projections). This report should be announced in March.

Do you think Sharp will be able to pull themselves out, or will they end up being sold off to different companies to pay off debts? Tell us in our Forum

Last modified on 17 January 2013
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