Sharp, Lenovo in TV joint venture talks

Sharp might sell its TV manufacturing plant in China to Lenovo, and begin a venture with the computer maker to push TV sales in China because it appearance to bolster its finances.

Citing Nikkei, Bloomberg rumored Th each corporations area unit in finish-stage talks over Sharp’s liquid show (LCD) TV manufacturing plant in Nanking being transferred to its Chinese counterpart by end 2013.

Sharp and Lenovo can also begin a venture to push sales of Sharp’s Aquos TVs in China, and probably expand the collaboration to geographic area and geographical region, it said.

The Aquos TV maker is additionally in talks with Taiwan’s Wistron Corporation for the sale of another TV plant in Malaya, Bloomberg side. Sharp might raise concerning thirty billion yen (US$338.4 million) from the sale of plants.

However, once contacted by the wire service, a pointy exponent same the corporate isn’t the supply of knowledge for the report.

Sharp is additionally statement a web loss of 450 billion yen (US$5.07 billion) for the year ending Mar. 31, 2013, in what is going to be the company’s biggest loss, in line with the report.

This is the most recent effort by the ill Japanese company to revive its fortunes. Earlier this month, Sharp was reportedly learning plans to expand its capital base by quite US$1.15 billion, that may embrace a public providing and subordinated loans. In December, Sharp same it’s reached a partnership influence U.S. chipmaker Qualcomm, which is able to invest up to US$120 million to together develop and commercialize show panels.