Sharp, which supplies screens for the Apple iPhone and iPad and is in talks to sell a stake to fellow Apple supplier Hon Hai Precision Industry Co, denied the report. Its stock, which has slid by more than two-thirds this year, was trading 4.5 percent higher in Tokyo.
The Mainichi newspaper reported on Friday, without citing sources, that Sharp wants more than 30 billion yen ($383 million) from Intel. The Japanese company last week said that talks to sell Hon Hai a 9.9 percent stake had stalled as the Taiwanese company sought a say in Sharp's management in return for the investment.
With as much as 360 billion yen of short-term commercial paper loans to repay, Sharp needs cash. The maker of Aquos TVs is for now relying on its main banks, Mizuho Financial Group and Mitsubishi UFJ Financial Group, for funding.
An Intel spokesman declined to comment on the report, which said the two could reach a deal as early as next month.
Intel is attracted by Sharp's technology for small and midsize liquid crystal display (LCD) panels, the Mainichi said.
Intel is promoting ultra thin laptops to counter tablets computers from Apple Inc. Earlier this year, Intel signed deals with several panel makers to ensure adequate supplies for a wave of Ultrabook laptops with touch screens expected to hit the market following Microsoft's launch of Windows 8 in late October.
Ultrabook computers, which critics say may be too expensive for many consumers, are Intel's big bet to reinvigorate a PC industry that is stagnating due to consumers' growing preference for tablets and smartphones.
Sharp, with its TV business in retreat, is looking to small displays to spark a revival in its fortunes. Rather than nestle deeper in Apple's supply chain, Sharp sees the new generation of ultrabooks as a fresh market for its most advanced displays.
The jewel in Sharp's technology portfolio is the IGZO display, which can operate at much lower power consumption than conventional LCD displays, is thinner because it requires less backlighting, boasts a highly-sensitive touch screen and very high definition.
All of those advantages Sharp's chief financial officer, Tetsuo Onishi said this month, make it a perfect fit for ultrabooks using Microsoft's latest operating system.
"Lower power usage is going to become a major consideration," Onishi said at a briefing in Osaka.
Sharp in the year ending March 31 expects a net loss of 250 billion yen, after losing 376 billion yen in the last financial year.
($1 = 78.2450 Japanese yen)
For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
Related Post:
best stock today
- Why CEDC stock prices down
- Newmont Mining NEM shares analysis next week
- General Motors stock analysis next week
- Amazon stock analysis next week
- Yankee banks bonds are lining up price next week
- Best Health Care Provider stocks strong to buy This week
- Hewlett-Packard HPQ stock november 20 2012
- United parcel service stock Analysis 2013
- stocks to watch next week november 12-16 2012
- UBS raised Tesco stock rating buy oct 17 2012
- JMP Securities raised JPMorgan Chase stock price target oct 15 2012
- Coach share price forecast 2013
- most active stocks pre-market session 9/25/2012
- Caterpillar earnings projection 2015
- Oracle stock prices target
- Stocks with historical low P/S ratios
- Citigroup stock prices september 18 2012
- Longbow Research downgraded AMD stock rating
- Newmont stock prices forecast
- AIG may consider dividend summer 2013
- PVH Corp Stock prices august 29 2012
- Yelp stock prices Surged august 29 2012
- U.S. Stocks Movers 8/27/2012
- Hot Stocks to watch 27 - 31 august 2012
No comments:
Post a Comment