Sharp Struggles To Find Investors As Sales Tank AGAIN
Sharp has been speaking with several potential investors for its liquid crystal display business luding Hon Hai of Taiwan also known as Foxconn and Japan Display. But a deteriorating outlook for the LCD business is making the company less appealing and a Sharp spokesman said no deal had yet been struck.
Prices of panels have fallen sharply because of a slow- in the Chinese economy and an oversupply of high-end displays analysts say.
Sharp shares fell six percent after the company said the “severe environment” in the display business meant it would fall short of the 10 billion yen (US$83 million) operating profit it had previously forecast for the six months ending September 30.