Japan's Sharp in TV tie-up talks with Lenovo: Report
TOKYO (AFP) - Shares in struggling Japanese electronics maker Sharp shot up seven per cent on Thursday on reports it is in talks with Chinese computer giant Lenovo Group to work together on the production of televisions.
In the possible tie-up, the troubled firm is expected to sell all shares in a Chinese subsidiary operating an LCD TV assembly plant in Nanjing to Lenovo by the year-end, the Nikkei daily and Jiji Press said.
Sharp's other Chinese subsidiaries handling development and sales will also be turned into 50-50 joint ventures, the Nikkei said, without citing sources.
Sharp and Lenovo plan to sign a memorandum of understanding as early as this month, the Nikkei said.