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Japanese electronics maker Sharp has in recent years seen a slump in sales. What is arguably required for the company to remain afloat in this tough consumer market is a change in business strategies. As one of Japan’s most renowned sellers of liquid crystal displays, Sharp is hastily searching for ways to revamp its administration.
First there was talk of a possible alliance between Sharp and Taiwanese major electronic company Hon Hai Precision Industry Co., Ltd. However, coming to a deadlock in investment negotiations, Sharp changed course by forming an alliance with a company that was arguably up until now its biggest competitor on the market, South Korea’s Samsung Electronics Co. It was announced this week that a capital alliance between the two companies is in its final stages of negotiation.