Sharp Gobbles NEC as Japan's Display Giants Team Up to Take on Europe and North America
Arthur T Knackerbracket has found the following story:
Sharp will acquire two-thirds of NEC Display Solutions (NDS) and form a joint venture to take the two companies' products to market.
NDS makes LCD displays, professional projectors, and digital cinema products and solutions. The company has a sales of 63.2 billion yen ($571m) but has struggled in recent years as margins for displays have shrunk amid growing competition.
Sharp makes sensors and camera modules, as well as some panels for Apple's iPhones. The Osaka-based firm was bought by Foxconn owner, Honn Hai, in 2016 for $3.8bn after years of heavy losses.
In a trading update, Sharp said it was acquiring NEC's display business due to its strength in the European and North American markets. Sharp reckons that the combined business will benefit from scale and cross-selling, which will help its 5G-capable 8K screens find more buyers.
"This joint venture between Sharp and NEC Display Solutions will bring even greater value and benefits to customers and partners by extending our state-of-the-art product portfolios together with a range of professional service offerings," said president of NDS, Hisatsugu Nakatani.
-- submitted from IRC
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