Faced with persistent losses to its liquid crystal display (LCD) business, Sharp Corp. is in talks to sell either all or a portion of its display business.
Despite a $1.7 billion rescue in May—the second major bail out of the Japanese electronics vendor in three years—Sharp has continued to keep its struggling LCD business competitive and now its main lenders are calling on the company to exist or divest portions of its business in the next few months, according to a report from Reuters.
During the company’s latest earnings conference call, Kozo Takahashi, CEO of Sharp, says the company is currently in negotiations with multiple companies, but refused to provide any names.
Potential companies interested in Sharp’s LCD unit could include Hon Hai or even rival Japan Display Inc.
Sharp’s LCD division had an operating loss of $105.2 million during its latest quarter and is forecast to lose about $248 million this year.
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