Financially ailing Sharp Electronics of Japan will make a decision on selling itself to either Innovation Network Corporation of Japan (INCJ) or Taiwan’s Hon Hai Precision Industry (Foxconn) in about a month, Sharp said.
Although Sharp is “actively negotiating” with the two companies, a spokesperson said, “despite reports, no final decision has been made, and no one company has favored status. The company expects to conclude these negotiations in approximately one month and will release any new information when it is available.”
Sharp last week announced that its latest quarterly loss more than doubled from a year earlier.
Also last week, The Wall Street Journal reported that Foxconn chairman Terry Gou said the contract manufacturer, which assembles the iPhone, expects to complete a deal to buy Sharp by the end of February.
Last year, China-based Hisense announced the purchase of Sharp’s TV factory in Mexico and the rights to use the Sharp brand name on TVs in the Americas for an unspecified period. In the U.S., Sharp still markets microwaves and small appliances through its Mahwah, N.J., offices as well as B-to-B products such as displays for business and commercial applications.