The Wall Street Journal is reporting today that unnamed sources are telling it that Apple has built and is testing a large screen, high definition television that it has worked closely with Asian suppliers to create. Most notably, these sources say that Apple worked closely with Hon Hai Precision Industry Co. (Foxconn) – it’s leading iPhone/iPad supplier – and Sharp Corp. – the troubled Japanese television company.
Just one day after Qualcomm, Inc. announced a technology pact and investment deal with Japan’s troubled Sharp Corp., word comes out of Taiwan that Hon Hai Precision Co. Ltd. may still be interested in taking a major position in the company. According to a Taiwanese newspaper, they have been told that Hon Hai may yet invest enough to own 9.9% of Sharp – making them Sharp’s single largest shareholder – to be decided by March 31, 2013.
See more on this surprising re-invigoration of this dormant deal… [Read more…] about The Good News Just Keeps on Coming for Sharp
Qualcomm, Inc. announced today that it has reached an agreement with Japan’s Sharp Corp. on the expansion of a technology agreement with its Pixtronix, Inc. division to create high quality color, low-power MEMS (Micro Electro Mechanical Systems) displays based on Sharp’s IGZO (Indium Gallium Zinc Oxide) technology. The agreement also provides for Sharp to utilize existing LCD factories to provide manufacturing…and most importantly for the struggling Japanese manufacturer…for Qualcomm to invest $120 million to become a minority shareholder in Sharp.
Does this deal save Sharp?… [Read more…] about Qualcomm Agrees to $120M Investment in Sharp; Is Sharp Saved?
Sharp Corp., the struggling Japanese manufacturer that is widely reported to be scrambling to survive, recently offered buyout packages to employees hoping that 2,000 would agree to leave the company. To their surprise, almost 3,000 employees volunteered to leave – good for the company, but a sign of their lack of confidence in the company’s ability to return to profit anytime soon.
See more on this latest indicator of the company’s struggles…
According to multiple reports from Reuters, Nikkei and others, Sharp Corp., the troubled Japanese consumer electronics manufacturer, is in negotiations with Intel Corp. and Qualcomm Inc. about a much-needed capital investment. Sources are telling the media that Sharp may receive as much as $378 million from the companies. The news was enough to send shares of Sharp stock soaring in Japan.
See more on this surprising twist in the Sharp saga… [Read more…] about Sharp in Talks with Intel and Qualcomm to Receive Capital Investment
Out of Tokyo, Japan this past Monday came word of a new global strategic collaboration between Onkyo Corporation, U.K.-based Imagination Technologies Group, and Imagination’s consumer division known as Pure. A global technology creator, Imagination Technologies Group largely focuses on multimedia, cloud, mobile, and connected audio technologies – often licensed to major consumer brands as part of their product offerings.
See more on this technology agreement…and what it portends for future Onkyo products… [Read more…] about Onkyo Forges Global ‘Strategic Collaboration’ with Imagination Technologies Group
Last week, we reported on a rumor out of Japan that Sharp Corp. was about to report a dismal interim net loss that was much worse than anticipated. This Wednesday, Sharp confirmed those rumors announcing an interim (Apr-Sept) operating loss of ¥168.9 billion ($2.1 billion). This result was after a ¥84.4 billion ($1.1 billion) charge for costs associated with restructuring their struggling business.
But what really has the industry and investors talking is that the company affirmed that it is likely to show a “huge” net loss for the entire fiscal year of ¥450 billion ($5.6 billion), almost double a previous estimate of ¥250 billion. It is also well above analysts’ estimate of a ¥296 billion loss according to a survey of 17 analysts by Bloomberg. [Read more…] about Can Sharp Survive? Company’s Performance ‘Raises Serious Doubts About [Our Ability] to Continue’
The Nikkei reported today that it has learned from unnamed sources that Sharp Corp. is about to report a surprising interim net loss of ¥400 billion (just over $5 billion). Covering the period of their April-through-September fiscal (interim) semester, this loss is 90% worse – almost double – their most recent estimate of a ¥210 billion loss…and an full ten times worse than last years interim loss of ¥39.8 billion.
How did Sharp management get their forecast so wrong?… [Read more…] about Sharp Shocker: Company Will Report Interim Net Loss Almost Double Their Forecast
Sharp Corp., once a high flying superstar of Japanese manufacturing might, finds itself engaged in a multi-front battle for survival as it seeks to replenish its depleted capital reserves. Recently, the company had announced that it was negotiating a partnership deal that included the sale of factories and a capital investment from Taiwan’s Hon Hai Precision Industry Co. But these talks stalled when Sharp’s share price dropped to a value less than half the agreed-upon level.
Now, in a series of announcements, the company has submitted a new plan seeking the support of its banks by “upping the ante” in its restructuring plans, more than doubling staff cuts, selling off company assets, and offering several Sharp-owned properties as collateral – including its headquarters facility.
Sharp’s new plan cuts deeper and will be more painful…but is it enough?… [Read more…] about Sharp, Struggling to Survive, Provides Banks with a New Plan; Ratchets Up Painful Cuts
In a rash of news coming out of Japan, it is clear that manufacturers are still struggling with the global economic slowdown…as well as an electronics industry retrenchment. As painful as it’s been for Japanese manufacturers (often called Japan, Inc.) over the last 12-24 months or so – adding insult to injury, the China market has slowed down dramatically recently. Considering that China was everyone’s favorite “emerging” growth market – this amounts to a swift kick in the pants and is forcing many to revisit their estimates for this fiscal year. Below is a sample of the latest painful announcements to come out of Japan over the last few days.