Sharp to join hands with Chinese LCD maker

Sharp to join hands with Chinese LCD maker

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Electronics manufacturing company Sharp is struggling for its existence these days. In order to maintain its position in the market, the company will be joining hands with Nanjing China Electrics Panda Group Corp., which is a major company that makes liquid crystal display panels. The companies will be coming together to produce LCDs starting from 2015 at the earliest, it was announced on June 26, 2013.

Sharp

In recent times, it was becoming noticeable that the Osaka-based company was hit by decreased sales of LCD TV and panel sales due to tough competition from overseas rivals. Sharp will be investing tens of billions of yen in this venture and will be providing technology for the new power-saving and crisp-resolution LCD panels.

The company has always been careful in terms of providing the technology, but Sharp has reportedly decided that it will place a priority on rebuilding its business, instead of maintaining exclusive control over the expertise. The recent move has been made after Sharp?s capital and business tie-ups with the US telecom device maker Qualcomm Inc., as well as South Korean rival Samsung.

The latest tie-up plan states that the two companies will be making large-size LCD panels for TVs, which do not require Igzo technology, at a new plant that is constructed in Nanjing by CEC Panda.