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Sharp Corp In Talks To Sell Chinese TV Plant To Lenovo Group Ltd.-Reuters

Wednesday, 16 Jan 2013 08:29pm EST 

Reuters reported that Sharp Corp may sell its Chinese TV assembly plant to Lenovo Group Ltd. as the cash-strapped Japanese TV maker looks to sell assets to bolster its finances. Sharp is in talks with Lenovo about selling the LCD TV assembly plant in Nanking and also about tying up with the Chinese company in its other subsidiaries there. Sharp had been in talks to sell its Chinese TV plant to Taiwan's Hon Hai Precision Industry Co., Ltd. along with an assembly plant in Mexico. Hon Hai, which is also in talks to buy a stake in Sharp and earlier bought a share in the Japanese company's advanced LCD panel plant in Sakai western Japan, may now buy only the North American facility. Financial terms were not disclosed.