“Sharp has fallen on hard times again,” declared an at times shocking report in the Nikkei this week. The statement comes in the wake of the company announcing on Tuesday that, rather than their forecast of a profit for the current fiscal year, the company will in fact book a net loss. And this disappointing news will almost certainly drive the call for a much more drastic restructuring than has been accomplished in the past – with the company reportedly considering pulling out of the television business in North America altogether.
Sharp Corp. this week began warning the media and, through them, investors that it is likely to miss its forecasts for revenues and profits for the fiscal year set to end March 31, 2015…and miss big. Just days after the International Consumer Electronics Show in Las Vegas where Sharp excitedly showed a large roster of new products, the company is hinting that it may have to take extraordinary steps to stem a newly expected tide of red ink.
See more on this remarkable admission from Sharp… [Read more…] about Company Warns Media & Investors, Sharp Pain is Coming
Like a carefully scripted political debate, Day 0 of CES (Day 1 for most of the press) opened with great fanfare…but offered no real surprises. Day 0 – officially known as Press Day – is an endless series of press conferences in which major manufacturers make their significant announcements and present their plans for 2015. And this year these press conferences, for the most part, followed their expected path – not even a Michael Bay meltdown emerged to spice it up a bit like last year!
See the major themes emerging from the Press Day presentations… [Read more…] about CES 2015 Opens with Great Fanfare, But No Real Surprises
Sharp Corporation has announced in Japan that it intends to be the first company in the world to bring 8K LCD TVs to market – and says it will begin making them in 2015. Sharp made the comments at CEATEC, a major trade show for the IT and CE industries taking place right now in Japan.
Are you ready for 8K?… [Read more…] about Sharp Says They’ll Be First to Market with 8K TVs – Plans 2015 Start
3,000 Sharp European Employees to be Cut
Sharp Corp. said late last week that it has reached an agreement with Universal Media Corp. of Slovakia to license its brand and market Sharp branded products in Europe. As part of this strategy, Sharp will either sell or close its factory in Poland, cutting approximately 3,000 employees in total between their company-owned factory and European operations.
See more on this development, as Sharp pursues a new business strategy…. [Read more…] about Sharp to Close European Operations; Licenses Brand to UMC of Slovakia
Sharp Corp. is said to be in the process of selling the land under one of its major factories in Osaka, Japan, in a bid to raise cash. The transaction, reported by the Nikkei, is said to be happening as early as the current fiscal year.
But that’s not all the company is selling… [Read more…] about Needing Cash, Sharp Will Sell Land Under Major Factory
In a new report out of Japan, the Nikkei is forecasting that Sharp Corp. will book a net loss of around ¥2 billion ($19.6 million) for their fiscal first quarter (April – June) this year. The report further says that the company plans to exit both the consumer electronics and solar panel businesses in Europe in order to refocus their efforts on other markets.
Why is a ¥2 billion loss good news? See more below… [Read more…] about Good News: Sharp is Forecast to Lose 2 Billion Yen in Fiscal 1st Quarter
In a report out of Japan last week, the Nikkei says that Sharp Corp. has reached a deal with Best Buy that will allow the retailer to license the Sharp brand name to be used on TVs made by OEM manufacturers for smaller and less expensive TVs. Sharp will continue to retain the brand for larger-sized sets (i.e. >50-inches), while Best Buy will have their OEM suppliers make Sharp-branded sets in smaller sizes.
Then move could be risky, potentially causing a conflict between the lower quality smaller sets and the higher quality larger sets…each bearing the Sharp brand.
See more on this move designed to bring in a royalty stream with no cost of inventory… [Read more…] about Best Buy Licenses Sharp Brand Name for Smaller, Cheaper TVs Sourced from OEM Suppliers
Sharp Corporation announced that it has decided to end production of solar panels at its factory in Memphis, Tennessee, the Nikkei reported today. As a result, 300 jobs will be eliminated at the facility.
See more on this unexpected announcement from Sharp… [Read more…] about Sharp Ends Production of Solar Panels at Tennessee Factory – 300 to Lose Their Jobs
In yet another sign of an industry in transition, Chinese manufacturer Tong Fang Global – better known by the Seiki brand of A/V products it manufactures – has turned the typical industry model for introducing the latest and greatest technology on its ear. In the same show where Sharp rolls out a 70-inch 4K Ultra HDTV for $8,000, Seiki rolls out a 39-inch 4K Ultra HDTV for $700. How do they do it? Read on…