Sharp looking sharp again
The turnaround does credit to CEO Kozo Takahashi.
Sharp lost $9 billion in the previous two years running up debts of $12.7 billion. The first sign of recovery was a profitable calendar Q3 last year.
To raise money, Sharp sold assets: it sold Recurrent Energy for around $190 million; it sold 3% of the company to Samsung for $100 million and 3.5% of the company to Qualcomm for $120 million; it sold three more $100 million stakes to Makita, Denso and Lixil Group.
Sharp also had a public equity offering to raise $1.7 billion.
Sales of Sharp’s low-power IGZO displays are expected to double this year said Takahashi due to demand from China hand-set makers.Tags: CEO Kozo Takahashi., Recurrent Energy