As the market for HDTVs becomes saturated, the TV industry is experiencing extreme upheaval: new gimmicks like 3D and Smart TVs haven't been enough to revive stagnating sales, and major players like Sony and Panasonic are drastically restructuring.
With its stock price falling, Sharp may end up selling a stake of its company to Hon Hai for less than originally agreed upon.
Hon Hai is looking to have a 20 percent stake in Sharp, doubling the amount set during a manufacturing agreement established earlier this year.
Sharp is announcing a first quarter operating loss of ¥138.4 billion (about $1.76 billion) — nearly triple 2011’s first quarter loss of ¥49.3 billion (about $628 million). The loss had a huge effect on Sharp’s forecast for the fiscal year, which went from a ¥30 billion loss (about $382 million) to a ¥250 billion (about $3.18 billion) one for the year ending March, 2013.
Sony's financial results for Q1 fiscal 2012.
Sony and Panasonic agree to develop large OLED panels and modules for TVs.
Samsung and Sony have both started restricting retailers from offering discounts on TVs.
Panasonic announced that its net loss for fiscal 2012 was 812.8 billion yen (about $10.2 billion)— an increase of more than 30 billion yen (about $375 million) from its revised forecast in February.
Sharp is posting a record 376 billion yen loss for fiscal 2011. It expects TV production to fall nearly twenty percent in 2012.
For the third straight quarter LG Display has experienced a quarterly loss due to low demand, though things may turn around during Q2 2012.
A Viacom study says that 15 percent of all TV viewing in the US is now done on tablets, making the devices the second most popular viewing platform.
How do you fix a problem like Sony's chronically ailing TV business?
Sharp will reportedly sell a further 7 percent of its stake to Dai Nippon Printing Co. and Toppan Printing Co, leaving Foxconn as the largest shareholder in Japan's most advanced LCD facility.
Sony has just announced that it'll report a record $6.4 billion loss for the 2011 financial year.
Last month, we reported that Sony was planning to roll out a "unilateral" pricing strategy in the US on April 1st. This would essentially put an absolute minimum on what its retail partners could charge for Sony products, and its starting to look like this new strategy is rolling out as promised.
ET News cites information from sources that Sony has sent engineers to an AU Optronics (AUO) factory in Taiwan in order to start OLED development.
Sony has announced that it will make no further investment in Sharp Display Products Corporation (SDP), its joint LCD production venture with Sharp, following yesterday's news that Foxconn would be taking a 46.5 percent stake. A decision on what Sony will do with its seven percent stake is expected by September.
Sharp has entered into a manufacturing agreement with Foxconn that will see the Taiwan-based supplier take a stake of around 10 percent in the Japanese manufacturer. Foxconn has invested about ¥67 billion ($809.1 million dollars) of capital into Sharp in return for around 121.65 million new shares.
Sony is unveiling its new management structure, including several new board appointees, and the addition of UX and medical business groups. The TV division will be placed directly under the supervision of CEO Kazuo Hirai.