zugzwang Posted September 25, 2012 Share Posted September 25, 2012 That twenty year long Japanese recovery goes from strength to strength. Banzai!! Troubled Japanese consumer electronics giant Sharp is to cut 11,000 jobs worldwide and sell $2.7 billion worth of assets and factories in a bid to turn its finances around, a report said Tuesday. The company, best known for home appliances, including LCD televisions, will also cut wages, Kyodo News said, citing a company plan presented to creditor banks on Monday. Once the new plan is finalised, the banks are expected to offer fresh loans totalling 360 billion yen ($4.6 billion) to the cash-strapped firm, which faces a huge bill for the redemption of commercial paper this year and bonds the next. Under the new plan, Sharp will shed 19 percent of its 57,170-strong global workforce, by the end of March 2014, Kyodo said. The company will also cut wages and bonuses to save almost 50 billion yen in personnel costs in the year to March 2013, Kyodo said. Sharp announced in early August that it was slashing 5,000 jobs worldwide and the new reported figure appeared to include that original round of lay-offs. The report comes amid growing speculation that the company may receive a cash injection of more than $380 million from US chip giant Intel (NasdaqGS: INTC - news) , and as its ties with Taiwanese partner Hon Hai begin to sour. Sharp, which expects a huge 250 billion yen ($3.2 billion) loss in the year to March 2013, sought help from Hon Hai, which promised in March to take a stake of around 10 percent in the Japanese firm. However, Sharp shares plunged shortly after the deal was signed, pushing Hon Hai, best known for its Foxconn brand producing Apple (NasdaqGS: AAPL - news) gadgets, to demand Sharp reduce the investment price. As Sharp's relations with Hon Hai cooled, Intel has emerged in the media as a possible tie-up partner to help the 100-year-old Japanese company. Sharp, which has seen its mainstay television, liquid crystal display and solar panel products struggle, has promised to return to the black in the next fiscal year starting in April. Quote Link to comment Share on other sites More sharing options...
LivingWithTheInlaws Posted September 25, 2012 Share Posted September 25, 2012 The company, best known for home appliances, including LCD televisions, will also cut wages, Kyodo News said, citing a company plan presented to creditor banks on Monday. That's where they're going wrong. LED TVs are the latest thing. LCD is on the way out. Quote Link to comment Share on other sites More sharing options...
iamdamosuzuki Posted September 25, 2012 Share Posted September 25, 2012 Sharp was the Samsung of it's era. Spectacularly took advantage of cheap labour and tat in the 90's, ruined the brand and is now reaping the rewards. Quote Link to comment Share on other sites More sharing options...
NuBrit Posted September 25, 2012 Share Posted September 25, 2012 Do Sharp even sell electronics in Europe? Quote Link to comment Share on other sites More sharing options...
Bradbury Robinson Posted September 25, 2012 Share Posted September 25, 2012 As long as they promise to make money next year it's all OK. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted September 25, 2012 Share Posted September 25, 2012 They should change their name to Blunt. Quote Link to comment Share on other sites More sharing options...
JustYield Posted September 25, 2012 Share Posted September 25, 2012 That's where they're going wrong. LED TVs are the latest thing. LCD is on the way out. Um... Quote Link to comment Share on other sites More sharing options...
ChumpusRex Posted September 25, 2012 Share Posted September 25, 2012 Um... I'm not sure if the original comment was serious or not. But, just in case any one here doesn't already know, "LED TVs" *are* LCD TVs. Not just that, but sharp are one of the market leaders in building LCDs that are optimised for use with LEDs. Quote Link to comment Share on other sites More sharing options...
Olebrum Posted September 25, 2012 Share Posted September 25, 2012 Those green shoots keep popping up all over the place. Quote Link to comment Share on other sites More sharing options...
LivingWithTheInlaws Posted September 25, 2012 Share Posted September 25, 2012 I'm not sure if the original comment was serious or not. But, just in case any one here doesn't already know, "LED TVs" *are* LCD TVs. Not just that, but sharp are one of the market leaders in building LCDs that are optimised for use with LEDs. OK. I wasn't aware of that. I wasn't being particularly serious but my perception is that Sharp are no longer cutting edge and they are a budget brand because of this. I looked up LED TV Technology and found this. http://dvice.com/archives/2008/04/need-more-contr.php So it's a sort of hybrid of LED and LCD. Quote Link to comment Share on other sites More sharing options...
easy2012 Posted September 25, 2012 Share Posted September 25, 2012 OK. I wasn't aware of that. I wasn't being particularly serious but my perception is that Sharp are no longer cutting edge and they are a budget brand because of this. I looked up LED TV Technology and found this. http://dvice.com/archives/2008/04/need-more-contr.php So it's a sort of hybrid of LED and LCD. Yap. Think you mean OLED (which is a samsung thing) Quote Link to comment Share on other sites More sharing options...
repetitive bleats Posted September 25, 2012 Share Posted September 25, 2012 We have a Sharp LCD TV in the office. Were about to replace it as it has constantly needed repairing since we bought it a few years back and is now unwatchably bad. Samsung every time. Quote Link to comment Share on other sites More sharing options...
Olebrum Posted September 25, 2012 Share Posted September 25, 2012 We have a Sharp LCD TV in the office. Were about to replace it as it has constantly needed repairing since we bought it a few years back and is now unwatchably bad. Samsung every time. I bought a Sharp 14" portable in '87, it still works. Quote Link to comment Share on other sites More sharing options...
pezo Posted September 25, 2012 Share Posted September 25, 2012 I bought a Sharp 14" portable in '87, it still works. I got a Sharp 42" TV about a year ago now and it broke down within 3 months - the engineer did say he was made of more sharp parts than the TV (considering his shirt had Samsung on it I was quite surprised) Quote Link to comment Share on other sites More sharing options...
Guest eight Posted September 25, 2012 Share Posted September 25, 2012 Sharp was the Samsung of it's era. Spectacularly took advantage of cheap labour and tat in the 90's, ruined the brand and is now reaping the rewards. I always associate them with Bryan Robson in a Manchester United shirt. Although perhaps that's what you were referring to. Quote Link to comment Share on other sites More sharing options...
the gardener Posted September 25, 2012 Share Posted September 25, 2012 I've got a sharp solar powered calculator from about 1985 that's still as good as new. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.