Japan's Sharp in TV tie-up talks with Lenovo: report

Shares in struggling Japanese electronics maker Sharp shot up 7.30 percent on Thursday on reports it is in talks with Chinese computer giant Lenovo Group to work together on the production of televisions.

In the possible tie-up, the troubled firm is expected to sell all shares in a Chinese subsidiary operating an LCD TV assembly plant in Nanjing to Lenovo by the year-end, the Nikkei daily and Jiji Press said.

Sharp's other Chinese subsidiaries handling development and sales will also be turned into 50-50 joint ventures, the Nikkei said, without citing sources.

Sharp and Lenovo plan to sign a memorandum of understanding as early as this month, the Nikkei said.

The TVs sold in China will continue to bear the Sharp Aquos brand name, while plans call for the firms to jointly make inroads into other markets, including Southeast Asia and South America, it said.

Sharp hopes to raise the operating rates of these facilities by boosting TV sales through Lenovo's sales network in China, while Lenovo will use the partnership to make a full entry into the TV business, the report said.

Sharp said the firm has not made any decision related to its TV business.

Sharp shares closed at 338 yen after the reports.

Like rivals Sony and Panasonic, Sharp has suffered a series of credit rating downgrades. It has warned it expects to lose about $5.6 billion in the fiscal year to March, and has been on the hunt for suitors.

In December, the company said it had struck a 9.9 billion yen ($112 million) capital injection deal with chipmaker Qualcomm that would see the pair develop energy-efficient LCD panels for smartphones using the Japanese firm's technology.

The US company would initially get about 2.64 percent of Sharp's stock.

Last year, Sharp said it had reached an $800-million capital injection deal with Taiwan's Hon Hai Precision, which makes Apple gadgets in China, but the deal stalled as Sharp's share price nosedived.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • Wall Street set to open little changed
    Wall Street set to open little changed Reuters - 4 minutes 35 seconds ago

    Wall Street was set to open little changed on Tuesday as investors looked for catalysts to drive markets with one eye on clues for the timing of the next interest rate hike. Federal Reserve Chair Janet Yellen painted a rosy picture of the U.S. … More »

  • France urges halt to EU-U.S. trade talks
    France urges halt to EU-U.S. trade talks Reuters - 5 minutes ago

    Trade talks between the European Union and the United States should be halted and a new set started, France's trade minister said on Tuesday, adding his voice to calls from within Germany for an end to the negotiations. Three years of talks on a … More »

  • Mitsubishi says overstated mileage for more vehicle models
    Mitsubishi says overstated mileage for more vehicle models Reuters - 12 minutes ago

    Mitsubishi Motors Corp said on Tuesday more of its vehicle models were involved in a mileage cheating scandal than initially stated, and that it would temporarily stop domestic sales of affected vehicles and compensate owners. Earlier in the day, … More »

  • Slowing German inflation puts pressure on ECB
    Slowing German inflation puts pressure on ECB Reuters - 27 minutes ago

    German annual inflation slowed unexpectedly in August, preliminary data showed on Tuesday, suggesting price pressures in Europe's largest economy remain weak despite the European Central Bank's ultra-loose monetary policy. The euro zone has … More »

  • Fed bets boost dollar, EU tax bill bites Apple Reuters - 32 minutes ago

    U.S. interest rate rise expectations pushed the dollar up for a seventh time in eight days on Tuesday, while Wall Street dealers braced for a bruising session for Apple after it was hit by a record $14.5 billion European tax bill. The dollar … More »

  • Iowa at center of debate over 'shadow insurance' deals
    Iowa at center of debate over 'shadow insurance' deals Associated Press - 45 minutes ago

    For cash-strapped life insurance companies, the deal sounds almost too good to be true: A state law allows them to create complex financial instruments to transfer liabilities to new subsidiaries, instantly ... … More »

  • Irish finance minister says EU Apple tax ruling bizarre, political Reuters - 47 minutes ago

    DUBLIN (Reuters) - An order by European Union antitrust regulators for Apple (AAPL.O) to pay up to 13 billion euros ($14.5 billion) in taxes is a bizarre exercise in politics, Ireland's finance minister ... … More »

  • Uganda grants 8 oil production licenses to Total, Tullow Associated Press - 48 minutes ago

    Uganda's government has issued eight oil production licenses to two foreign companies, moving the East African country closer to becoming a producer of crude. Five of the licenses were granted to Britain's ... … More »

  • Gold edges lower as focus shifts to U.S. payrolls data
    Gold edges lower as focus shifts to U.S. payrolls data Reuters - 1 hour 2 minutes ago

    Gold fell on Tuesday after Federal Reserve officials sounded a hawkish note on interest rates, boosting the dollar, while attention turned to U.S. payrolls data this week for further clues on the pace of rate hikes. Fed Chair Janet Yellen said on … More »

  • EU tax avoidance action could hurt foreign investment: U.S. Treasury Reuters - 1 hour 6 minutes ago

    The actions of European regulators could hurt foreign investment, the U.S. Treasury said on Tuesday after the European Commission ruled Apple must pay up to 13 billion euros ($14.5 billion) in taxes plus interest to the Irish government. "The … More »

  • EU trade chief says many countries shown support for TTIP Reuters - 1 hour 11 minutes ago

    Many EU countries have contacted the European Commission to express their support for the planned EU-U.S. free-trade deal (TTIP) after German and French ministers said talks should be ended, the EU trade chief said on Tuesday. "I do not agree that … More »

  • Data demand, M&A hopes propel valuations of European mast owners Reuters - 1 hour 12 minutes ago

    Surging data traffic and a push to merge capital-intensive networks to cut costs are swelling the value of Europe's mobile infrastructure as it is gradually split away from the telecom industry that built it. The companies that operate cellular … More »

  • EDBI invests in LogRhythm to help enterprises detect and neutralise cyber threats
    EDBI invests in LogRhythm to help enterprises detect and neutralise cyber threats e27 - 1 hour 19 minutes ago

    LogRhythm helps organisations to reduce the time to detect and respond to cyber threats that have penetrated the enterprise perimeter or originated from within Less than a week after injecting money into RetailNext, EDBI — the VC investment arm of … More »

  • Oil prices rise on U.S. weather fears, OPEC speculation
    Oil prices rise on U.S. weather fears, OPEC speculation Reuters - 1 hour 21 minutes ago

    Oil futures rose on Tuesday supported by production suspensions in the U.S. Gulf due to an expected tropical storm and speculation that producers meeting in Algeria next month will act to prop up prices. Brent crude futures were trading at $49.53 … More »

  • China's Xi urges boost to economic reforms
    China's Xi urges boost to economic reforms Reuters - 1 hour 37 minutes ago

    BEIJING (Reuters) - China's key reforms have been smooth over the last three years, but implementation needs to be faster, Xinhua news agency said, citing a statement from a meeting chaired by President ... … More »

  • Apple ordered to pay record 13 bn-euro Irish tax bill
    Apple ordered to pay record 13 bn-euro Irish tax bill AFP News - 1 hour 39 minutes ago

    The European Union on Tuesday ordered Apple to pay a record 13 billion euros in back taxes in Ireland, saying deals allowing the US tech giant to pay almost no tax were illegal. In the latest in a series of rulings that has angered Washington, … More »

  • Warsaw looks to win more finance business in wake of Brexit
    Warsaw looks to win more finance business in wake of Brexit Reuters - 1 hour 43 minutes ago

    Poland's deputy prime minister is due to meet a string of banks in London this week as the country tries to boost its status as one of Europe's fastest growing financial centres and benefit from Britain's decision to leave the European Union. … More »

  • German minister says no sense in ending talks but TTIP has failed Reuters - 1 hour 46 minutes ago

    German Economy Minister Sigmar Gabriel said on Tuesday there would not be an official declaration that negotiations on a free trade deal between the United States and the European Union had ended without an agreement although talks had de facto … More »

  • German economy minister backs EU decision to make Apple pay Ireland billions in tax Reuters - 1 hour 49 minutes ago

    BERLIN (Reuters) - German Economy Minister Sigmar Gabriel on Tuesday backed a decision by EU antitrust regulators to demand that Apple pay up to 13 billion euros in taxes plus interest to the Irish government. ... … More »

  • All four big Chinese banks report rising bad loans
    All four big Chinese banks report rising bad loans AFP News - 1 hour 50 minutes ago

    All of China’s “Big Four” state-owned banks reported mounting bad loans in the first half of the year, statements showed, as the world's second-largest economy faces souring debt amid slowing growth. The Industrial and Commercial Bank of China, the … More »

  • S. African school told to halt 'racist' hair policy
    S. African school told to halt 'racist' hair policy AFP News - 1 hour 52 minutes ago

    A South African school was ordered Tuesday to suspend allegedly racist hairstyle regulations after black pupils said they had been called monkeys by teachers for wearing banned 'afros'. Local education authorities in Gauteng province gave Pretoria … More »

  • G-III Apparel reports 2Q loss Associated Press - 1 hour 57 minutes ago

    On a per-share basis, the New York-based company said it had a loss of 3 cents. Earnings, adjusted for non-recurring costs, were 1 cent per share. The results missed Wall Street expectations. The average ... … More »

  • China lenders ICBC, BoC report near flat profits as margins shrink
    China lenders ICBC, BoC report near flat profits as margins shrink Reuters - 1 hour 59 minutes ago

    SHANGHAI/BEIJING (Reuters) - Two of China's Big-Five banks, ICBC and BoC, reported on Tuesday near flat profits as margins shrank, mirroring results of other major domestic lenders that are feeling the pain of China's slowing economic growth that is … More »

  • U.S. unwillingness to compromise ended TTIP - German economy minister
    U.S. unwillingness to compromise ended TTIP - German economy minister Reuters - 2 hours 14 minutes ago

    German Economy Minister Sigmar Gabriel on Tuesday said the United States had effectively ended talks on a free trade deal with the European Union because Washington had not wanted to compromise with its European counterparts. The U.S. and the EU … More »

  • Dogs, like humans, distinguish words and intonation
    Dogs, like humans, distinguish words and intonation AFP News - 2 hours 16 minutes ago

    Dogs distinguish words and intonation in the same region of the brain as humans, according to a new study of how man's best friend interprets our language. Published Monday in the journal Science, the report by researchers at Budapest's Eotvos … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.123-0.001-0.81%
    N21.SI
    0.3550.0000.00%
    E5H.SI
    0.235-0.005-2.08%
    5ME.SI
    0.725-0.010-1.36%
    G13.SI
    0.315+0.005+1.61%
    5OT.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.55+0.12+27.91%
    BJZ.SI
    0.45+0.09+25.00%
    BFK.SI
    0.46+0.06+15.00%
    M05.SI
    0.23+0.03+12.20%
    BTJ.SI
    0.525+0.055+11.70%
    BQD.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.13-0.02-13.33%
    5TI.SI
    0.20-0.03-13.04%
    AWI.SI
    0.176-0.024-12.00%
    A04.SI
    0.166-0.022-11.70%
    AWS.SI
    0.155-0.020-11.43%
    5WD.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3614+0.0022+0.16%
    USDSGD=X
    1.5201-0.0005-0.03%
    EURSGD=X
    1.7846+0.0031+0.17%
    GBPSGD=X
    75.2480+0.331+0.44%
    SGDJPY=X
    5.6955-0.0069-0.12%
    SGDHKD=X
    2.9676-0.0077-0.26%
    SGDMYR=X
    9,784.3271+31.8232+0.33%
    SGDIDR=X
    4.9018-0.0125-0.25%
    SGDCNY=X
    1.0270-0.0029-0.28%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,321.80-5.30-0.40%
    GCZ16.CMX
    18.70-0.07-0.36%
    SIU16.CMX
    96.93
    ^XAU
    2.070.00-0.17%
    HGU16.CMX
    47.35+0.37+0.79%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.19
    ^FVX
    1.58
    ^TNX
    2.23
    ^TYX