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China's SVA says no timetable on talks with Sharp

Post Time:Feb 25,2009Classify:Company NewsView:263

China's SVA said on Monday it had been talking with Japan's Sharp (6753.T) but it had no timetable on any possible cooperation, responding to a report that the firms were considering joint LCD panel production.

SVA and Sharp Corp, the world's No. 3 LCD TV maker, had been negotiating for more than a year, but SVA was also in talks with other companies, said an SVA group official, who declined to give details.

Japan's Nikkei business daily reported on Saturday that Sharp was in talks with SVA for joint production of LCDs in China as a stronger yen has put pressure on earnings. SVA and NEC (6701.T) jointly operate an LCD factory using fifth-generation technology, while Chinese media reported that SVA was considering investing $2 billion to build a new plant with more advanced sixth-generation technology.

Chinese LCD makers, which have struggled as competition rises and prices fall, will need to spend significantly on higher-generation production facilities if they are to remain competitive, analysts say.

Source: ReutersAuthor: shangyi

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