Rumor: Sharp Suspends Sale of Nanjing TV Plant to Foxconn
Sina Tech, 12/27/12
According to a knowledgeable source, the proposed sale of Japanese electronics manufacturer Sharp's Nanjing LCD TV plant to Taiwanese electronics manufacturer Foxconn (2038.HK; 2354.TW) has reached an impasse over the price of the proposed transaction. Sharp's Nanjing LCD TV facility is primarily engaged in the manufacture of large-screen LCD TVs. Sharp is also rumored to be selling some of its Mexican manufacturing facilities to Foxconn.
Representatives from the two companies declined to comment on the matter.
Sharp recently announced a USD 120 mln investment from Qualcomm to develop energy saving display technologies.