OSAKA (Nikkei)--Sharp Corp. (6753.TO) plans to curtail its LCD
television and solar cell businesses in Europe, focusing instead on
such growth markets as Southeast Asia, the Nikkei reported in its
Monday morning edition.
The company's European sales came to around Y280 billion in
fiscal 2011, but slumped to Y200 billion or so in the year ended
March 31. Facing a second straight year of massive net losses
through fiscal 2012, the struggling electronics manufacturer seeks
to turn its fortunes around with the aid of major lenders. The
European downsizing will be part of a medium-term business plan due
out Tuesday.
Sharp had expected to sell 1 million LCD TVs in Europe last
fiscal year. But sales apparently fell short of the goal, sliding
roughly 30% from a year earlier. Sharp's market share there fell to
2.2% in 2012, according to U.S. research firm NPD
DisplaySearch.
As part of the retrenchment, the company will consider selling a
Polish TV factory whose utilization fell after a consignment
arrangement with Royal Philips Electronics NV ended last year.
Sharp also plans to scale back output at a British solar module
facility and sharply shrink its sales territory. European demand
has plunged as a result of changes to feed-in tariff programs for
renewable energy in the region.