Sharp Faces Blunt Reality
Shares in Sharp tumbled 14 percent last week over concerns about how the escalating China-US trade war is impacting the Japanese company, which makes sensors, camera modules and screens for Apple’s iPhones.
Last week it announced a new plant in Vietnam will make flat screens, electronic devices and air purifiers starting in April next year. The plant will allow it to shift part of its production from China if requested by customers.
Sharp plans to set up the unit in Vietnam with US$25 million capital to manage the factory.
The Japanese company’s shares logged their biggest daily percentage drop since June 2016, following President Trump’s threat to impose further tariffs on Chinese imports from next month.