Struggling Japanese TV-maker Sharp Corp is in the final stages of talks with Lenovo Group Ltd to form a television operations partnership in China the Nikkei reported.
Sharp plans to sell its subsidiary operating a LCD TV assembly plant in Nanjing to the Chinese PC maker this year and convert its other Chinese subsidiaries into 50 percent joint ventures, the Japanese daily said.
Sharp may tie-up with Lenovo
The two companies plan to enter markets other than China, including southeast Asia and South America, Nikkei reported.
Sharp, which has been losing money for years, signed a 360 billion yen syndicated lending agreement last September with Mizuho Corporate Bank and Bank of Tokyo-Mitsubishi UFJ, the business daily said.
The company is expected to report a consolidated net loss of 450 billion yen for the year ending March 31, Nikkei added.
Sharp is also in talks to sell its Malaysian factory to Taiwanese electronics manufacturing service Wistron Corp, the Nikkei said.
Published Date: Jan 17, 2013 09:33 am | Updated Date: Jan 17, 2013 09:33 am