Struggling Japanese TV-maker Sharp Corp is in the final stages of talks with Lenovo Group Ltd to form a television operations partnership in China the Nikkei reported.<\/p>\n
Sharp plans to sell its subsidiary operating a LCD TV assembly plant in Nanjing to the Chinese PC maker this year and convert its other Chinese subsidiaries into 50 percent joint ventures, the Japanese daily said.<\/p>\n
The two companies plan to enter markets other than China, including southeast Asia and South America, Nikkei reported.<\/p>\n
Sharp, which has been losing money for years, signed a 360 billion yen ($4.07 billion) syndicated lending agreement last September with Mizuho Corporate Bank and Bank of Tokyo-Mitsubishi UFJ, the business daily said.<\/p>\n
The company is expected to report a consolidated net loss of 450 billion yen for the year ending March 31, Nikkei added.<\/p>\n
Sharp is also in talks to sell its Malaysian factory to Taiwanese electronics manufacturing service Wistron Corp, the Nikkei said.<\/p>\n
($1 = 88.4950 Japanese yen)<\/p>\n
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