Sharp Corporation (TYO: 6753), the television making company faced a dangerous economic crisis which refrains it from surviving in the corporate world. The company seeks help for an investment from Texas-based Dell Inc. (NASDAQ: DELL).
The Osaka Company sustained a heavy loss on stock this year. Its shares fell by 75%. So now with minimal chance of survival it has started its journey to seek investment from reliable sources.
Sharp Corporation (TYO: 6753) had talks with Dell Inc. (NASDAQ: DELL) for a capital funding of $240 million. The company is unable to get 67 billion YEN from Foxconn Technology Co., Ltd. (TPE: 2354) as planned earlier. Due to this deadly economic crisis, its credit rating has taken a hit.
Sharp Corporation (TYO: 6753) early in the current month doubted its own survival after a heavy loss and diminishing demand for its products in the market. Now sharp is employing cost cutting methods by means of cutting pay, curtailing job opportunities and by implementation of voluntary retirement plan and selling assets.
The discussion with Dell Inc. (NASDAQ: DELL) is not finalized till now.
Intel Talk
According to some reliable sources Sharp Corporation (TYO: 6753) is in final stage of talk with Intel Corporation (NASDAQ: INTC) for a lifeline of 40 billion YEN which can turn sharp from zero to hero.
Qualcomm may support the ailing company with funding on October 26.
Sharp Corporation (TYO: 6753) seeks rehabilitation from Hewlett-Packard Company (NYSE: HPQ), Microsoft Corporation (NASDAQ: MSFT), Google Inc (NASDAQ: GOOG) and Apple Inc. (NASDAQ: AAPL) also. Sharp Corporation (TYO: 6753) being hurt badly by competition from Samsung Electronics Co. Ltd. (KRX: 005930) may go to a bail out by the government.
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