TOKYO, April 20 Shares of Toshiba Corp (6502.T)
jumped 4 percent on Wednesday after a newspaper report that
Apple Inc (AAPL.O) would invest in its productin of small
smartphone-use displays, dropping Sharp (6753.T) from the
running for that business in Japan.
Shares of Sharp tumbled as much as 2.7 percent on the Nikkan
Kogyo report but regaining ground after Sharp issued a statement
saying the article was inaccurate and demanding the newspaper
withdraw it. Nikkan Kogyo declined to comment.
Nikkan Kogyo said Apple had been in negotiations with both
Toshiba and Sharp about investing 100 billion yen ($1.2
billion) each in production lines for small LCD displays to be
used in an upcoming version of its popular iPhone.
Apple decided to focus its investments in Japan in one
company and chose Toshiba, the newspaper said.
The decision, which follows Japan's March 11 earthquake and
tsunami, reflects Apple's desire to diversify its risk of having
too much investment in one country, the newspaper said.
($1 = 82.580 Japanese Yen)
(Reporting by Junko Fujita; Editing by Nathan Layne)
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