toggle

AAPL Stock: 112.34 ( + 4.62 )

Printed from http://www.macnn.com

Sharp in talks to spin off main LCD plant to suppliers

updated 04:45 pm EDT, Tue April 10, 2012

Sharp looks to sell new shares of $4b Sakai plant

Japanese LCD panel maker Sharp revealed on Tuesday that it is negotiating with suppliers Toppan Printing and Dai Nippon Printing on the sale of new shares of its main LCD manufacturing plant in Sakai. Exactly how much money each will contribute and what their stake in the plant will be remains to be seen, however. Taiwan's Hon Hai has a majority 46.48 percent stake in the plant as of last month, which is said to be the country's most advanced LCD plant.

Sharp's stake is less than 40 percent, while Sony holds a seven percent stake in Sakai, though it doesn't plan to increase that stake.

The display maker has also revised its loss estimate for the year, now at a net deficit of 380 billion yen (about $4.8 billion), or more than its estimate of 290 billion yen back in February. The plant cost $4 billion to build but is operating at below its break-even capacity.

Japanese electronics makers have been struggling with profits and earnings due to the relatively high yen exchange rate, added competition, and slumping demand for electronics. Sharp will report final fiscal 2011 financial results later in April. [via Reuters]







by MacNN Staff

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Blue Yeti Studio

Despite being very familiar with Blue Microphones' lower-end products -- we've long recommended the company's Snowball line of mics ...

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

toggle

Most Commented