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Japan's Sharp to make LCD panels in China

Post Time:Feb 23,2009Classify:Company NewsView:290

Japan's Sharp Corp. plans to produce liquid crystal display (LCD) panels in China through a partnership with a major Chinese electronics manufacturer, according to the Nikkei daily.

Sharp, the world's fifth-largest LCD panel producer, hopes to reach a deal with China's SVA Group this spring, the business daily said.

The electronics giant has been hit by the global slowdown and by the yen's rise against the dollar, which has made exporting panels to LCD television plants around the world less profitable.

The Japanese firm has said it expects its first-ever operating loss this year and will cut 1,500 jobs as revenues from high-end televisions plummet.

Sharp now intends to focus on producing panels using cutting-edge technologies at home while making older-generation panels abroad by joining forces with major foreign firms, Nikkei said.

The deal would make Sharp the first Japanese electronics manufacturer to produce LCD panels in China, it added.

Sharp expects an operating loss of 30 billion yen (330 million dollars) in the year to March 31, down from a previous forecast of a 130 billion yen profit.

Source: AFPAuthor: shangyi

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