Sharp Not to Disclose Six Month Forecast

Sharp Not to Disclose Six Month Forecast

Electronics major Sharp Corporation has decided not to release forecast for the first half of the year and reduce its full-year profit estimations in view of the fall in share value reported recently.

Officials close to the management said that the company has reported a deficit of 10 billion yen ($83 million) in the operational income and the fall will be reflected the results that will be prepare for September 30.

In a cover up endevour, Sharp is likely to sell off its shares in the LCD operation to Hon Hai Precision Industry Co. it may also consider sale to Japan Display Inc., the of owner Innovation Network Japan Corp.

Since May 18, Sharp reported share losses of upto 5.5%. This year, the share value went down by 42%, as compared to 1.4% last year.

Sharp President Kozo Takahashi said that he has been reeling under debt. He disclosed plans of selling out the TV business sector in North America and reduces investments in solar panel.

Earlier, Sharp sought investments from Taiwan-based Foxconn Technology Group's Hon Hai in 2012. However, the deal did not materialize.

Foxconn is now learnt to have sent a proposal for the purchase of Sharp's LCD business. The deal would also see participation from Apple. Sharp already produces display screens for Apple Inc.

Earlier, Apple Inc had reportedly supplied $987 million to sharp for its to transition from HDTV panels to smartphone LCDs.

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