Sharp gains on report of boost in IGZO display output
TOKYO Oct 22 (Reuters) - Sharp Corp shares gained as much as 11 percent after media reported the display maker is raising production capacity for its high-definition power-saving IGZO screens it hopes to sell to makers of ultrabook computers.
Sharp's stock jumped to 165 yen in early trading in Tokyo, its biggest one-day gain in almost two months.
Sharp is increasing output capacity for its IGZO displays as it seeks supply agreements with PC makers including Lenovo Group , Dell Inc and Hewlett-Packard, Kyodo news agency reported.
With its TV business in retreat, Sharp is looking to IGZO to spark a revival in its fortunes, seeing a new generation of ultra-thin ultrabooks as a fresh market for its most advanced display.
Intel is promoting ultrabooks to counter tablet computers from Apple Inc. Earlier this year, the U.S. chipmaker signed deals with several panel makers to ensure adequate supplies for a wave of ultrabooks with touch screens expected to hit the market following Microsoft Corp's launch of Windows 8 this month.