Taiwan's Hon Hai Precision Industry Co has offered bid to acquire the LCD business of Sharp Corporation. However, the bidding details were not revealed. Without confirming on its plans to offload LCD business or received any bid offer, Sharp Corp continues to explore several options for reviving the trouble-prone liquid panel display business. Sharp has also asked Apple Inc for funding support. Sharp Corp has sought a $1.9-billion revival package from the banks and decided to slash 5,000 jobs as part of the cost-cutting measures. The intense competition in LCD screens for smartphones from Asian companies is taking a toll on Sharp Corp's business.
Sharp Corporation
Breaking News
Subscribe to VCpost newsletter
Most Popular
- Doctors Raise Concerns Over Proposed Capital Gains Tax Changes
- Where's My Child Tax Credit 2024: When to Receive My Money After April 15 Tax Filing Deadline?
- Celebrity Designer Nancy Gonzalez Jailed for Smuggling Crocodile, Python Handbags
- IBM Set to Acquire HashiCorp in Possible Mega-Deal, Stock Skyrockets 24% to $6.1 Billion Valuation
- How to Get IRS Unclaimed Tax Refunds: Here's What to Do If You Think You Have Pending Payments
- Kroger and Albertsons to Sell off 166 Stores in Effort to Gain Approval for Their $25 Billion Merger
- Student Loan Forgiveness Processing for This Group of Borrowers Will Stop Next Week
- Stellantis Plans to Lay Off Unspecified Number of Workers at US Factories in Coming Months
