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.
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
<December 28, 2011> We now can predict with a reasonable level of certainty two huge technology stories coming up in 2012. They may in fact turn out to be the biggest stories of the entire year. One is the impending public offering of Facebook, a story that will likely mean the minting of yet another Forbes billionaire, Mark Zuckerberg. But the story that many feel will be the biggest of the big is the impending launch of Apple’s long-rumored iTV. [Read more…] about Of Two Big Tech Stories in 2012, This One Will Likely Be the Biggest…and Scariest