| ||Thread Tools|
|6th November 2012, 07:19||#1|
Join Date: May 2010
Sharp warns that it is close to collapse
Troubled Japanese telly maker, Sharp, has warned that if it can't do something radical soon, its business could go the way of the dodo.
Despite being a major supplier of LCD displays to Apple and other manufacturers, the company has admitted that it can't survive in its current form.
According to Computerworld, the company said that there is "material doubt" about its ability to continue operating.
The company thinks that it can cut costs and secure enough credit to survive and much of its plan for recovery is based on its IGZO technology for mobile displays. This technology uses less battery power than existing screens.
Sharp is also carrying out a restructuring plan in which it has reduced headcount, slashed employee salaries and mortgaged its buildings and factories.
The company is booking a net loss of $5.6 billion for the year - mostly to cover its restructuring costs. Its stock has been downgraded to junk status by ratings agencies and apparently its executives have been seen around Apple and Intel HQs with their cloth caps in their hands looking for bail outs, or investments, depending on who you talk to.
Sharp President Takashi Okuda said the company is continuing its negotiations with Hon Hai, even though so far these have not been going that well.
Sharp made a mistake in that it thought that the world wanted LCD panels for large-screen TVs. It is now trying to switch over to the booming market for tablets and smartphones.
|Thread||Thread Starter||Forum||Replies||Last Post|
|OCZ warns of 'significant' Q2 net loss||jmke||WebNews||1||12th October 2012 15:16|
|AMD warns on revenue||Stefan Mileschin||WebNews||0||11th July 2012 07:26|
|Sprint warns it's a 'little behind' on Samsung Galaxy S III||Stefan Mileschin||WebNews||0||20th June 2012 08:50|
|Yahoo and Alibaba deal about to collapse||Stefan Mileschin||WebNews||0||16th February 2012 07:27|
|Microsoft warns of TLS/SSL flaw in Windows||jmke||WebNews||0||10th February 2010 14:28|
|FBI warns of new Storm worm variant||Shogun||WebNews||0||31st July 2008 08:21|
|Intel "stuffed the channel" causing CPU sales collapse||jmke||WebNews||0||2nd June 2006 13:27|