“U.S.-based Intel Corp and Qualcomm Inc are in talks to jointly invest about 30 billion yen ($378 million) in debt-stricken Japanese consumer electronics maker Sharp Corp, sources familiar with the matter said on Wednesday,” Reiji Murai reports for Reuters. “Sharp may reach an agreement as early as the end of this month with Qualcomm, said one source, who asked not to be identified as he was not authorized to speak to the media.”
“Sharp, whose displays are used in Apple Inc’s iPads and iPhones, has foundered as the strong yen has increased its manufacturing costs in the face of competition from foreign rivals such as Samsung Electronics Co. ,” Murai reports. “Sharp has been in talks for months with Taiwan’s Hon Hai Precision Industry Co Ltd, which is considering becoming the century-old Japanese firm’s biggest shareholder, but has said it is looking at other alliances as well.”
Read more in the full article here.
Related articles:
Sharp: Foxconn talks could continue beyond March deadline – November 9, 2012
Did Apple use $2 billion to bail out Sharp last quarter? – November 7, 2012
Sharp boosts IGZO display output; shares soar – October 22, 2012
Like Panasonic (Matsushita), Sharp has skill sets required right now in the tech industry. I find it to be quite excellent to watch the industry itself work to keep those skill sets and ‘bail out’ failing companies.
I don’t abide at all with corporate welfare. The Japanese govt. wisely isn’t offering Sharp any bailout.
ArsTechnica is following what’s going on with the decline and fall of Sharp, Panasonic and, of course, Sony:
http://arstechnica.com/business/2012/11/sonys-financial-rating-falls-to-just-above-junk/
Gee thanks Derek for that thinly veiled political comment… Did you not get the memo …. We have abandoned politics on this forum until next election …ok ?
We have decided to return it to a tech forum… Silly I know. … But there it is.
I think you missed my earlier post today where I actually did go all political. No, this comment doesn’t have any thinly veiled anything. I’m talking about the state of business in the world today and my related opinions. The fact that a lot of business also happens to equal our brain dead Corporate Oligarchy who puppet string our government via BOTH US political parties is merely coincidental. 😉
Actually, it will be a relief to not have to endure political garbage here at MDN. I shall do my part to shut up. (^_^)
What’s that? Four more years?
Of our Corporate Oligarchy ruining everything in the USA? No thank you. BOTH US parties are to blame for turning the government over to these self-destructive morons. You won’t catch me liking either extreme of the 1 dimensional political spectrum.
Thanks Derek. Good points in your post. Most didn’t feel it was political. Just a few wingnuts.
Observing that the Japanese government didn’t bailout Sharp isn’t a political comment, its simply a statement of fact. Sharp couldn’t sit back and be lazy on the dole, they had to go look for solutions.
Alliances and partnerships with other tech companies will force them to be on the ball, develop and produce new great technologies and products. Its a win-win all the way around.
Despite the Tsunami, the Japanese are still awesome consumers. But unfortunately their yen is not only killing their electronics industry but also Honda, Toyota, Nissan, etc…
In either case, i am for the yen dropping to 100 y = $1, just for my selfish reason to visit… right now, it is too expensive.
Who knows for sure when the time comes what their government will do? Meanwhile this seams a bit like throwing a bucket of water on a burning house.
ArsTechnica’s article, linked in my post above, quotes the government. Of course, seeing is believing.
More importantly, when are MDN going to update their darn app for the iPhone 5???
I have found their app to be unstable and a waste of space, the site operates fine in Safari.
I abandoned it long ago..
$378 million? Chump change. The Obama administration will be encouraging theft by decree, er, investment by working men and women, to fund entitlement programs, um, provide bribes and payouts for political hacks and cronies, ah, America’s neediest citizens, to reward obedience and subservience to the state, er, promote national security and serenity in the tune of billions of dollars.
What is clear is that corporations that rest on their laurels end up becoming irrelevant.
Sony had big leads in many areas but failed to adapt with the times. Cameras are not so popular anymore since most phones have one. TVs are becoming a commodity, MP3 players are obsolete unless it is made from Apple. Industrial design for laptops isn’t working for Sony.
Hard to know where they can go from here. At least Sharp have developed skills in making screens and keeping ahead of the curve in development can bring in investment and orders.