We have all heard of Sharp, which used to be a household name because of the wide variety of household appliances the brand produced, such as washing machines and of course, TVs. However, not much have been heard of Sharp in the recent years, with other brands like Samsung and Philips taking over the fame. There was definitely a big reason behind this drop in its reputation, and that was because Sharp has had two bank bailouts so far.
Sharp has lost more than US$10 billion over the last four years, because it miscalculated its opportunities. The Japanese brand invested lots of money in producing large flat panels, only to witness an increased demand for smaller screens for smartphones and tablets. Talk about wrong decisions.
Yesterday, on 3 April 2016, Sharp finally signed a takeover contract with Foxconn for US$3.5billion. Foxconn is Apple’s major supplier in its iPhone and iPad productions. Meanwhile, Sharp had an embarrassing history of being dropped from Apple’s list of suppliers, after it struggled to meet the production demands.
Although the CEOs avoided questions about how and when Sharp would be able to start making profits again, they expressed confidence that Sharp would be able to bounce back with its technology. Although they are lagging behind on the trend of OLED displays, many experts believe that they will still succeed in striking up a good partnership with Apple. This is because Apple wants to balance out its heavy reliance on Samsung as a producer for its displays, by using Sharp which has a highly-regarded expertise in displays.
So to conclude, we are guessing that Sharp would definitely be able to bounce back and maybe even give Samsung a run for its money. In view of the big picture, it’s a race between a Japanese and a South-Korean supplier, which is not really anything new in the industry.
Top Image: ricochet64 / Shutterstock
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