FYI, Technology

Is Sharp about to go bankrupt?

CNET has an article that details the possible, last throes, of the once iconic Sharp Corporation.  The Japanese company was founded in 1912 by Tokuji Hayakawa and is the fourth largest tv manufacture behind Samsung, LG and Sony1

 

After witnessing the painful bankruptcy proceedings of Kodak and now seeing Sharp on its last legs, it is truly the end of an era.

 

 

Sharp had a rough six months during the period ended September 30 as sales fell 16 percent year-over-year to 1.1 trillion yen ($13.7 billion). The company’s net loss widened to 387.6 billion yen, dwarfing last year’s six-month loss of 39.8 billion yen.

In a statement today, Sharp acknowledged (PDF) that its losses “were huge,” and cast some doubt on its ability to stay in business.

“Sharp is in circumstance in which material doubt about its assumed going concern is found,” the company said in a statement, essentially telling investors that it doesn’t know how much time is left.

 

 

1http://en.wikipedia.org/wiki/Sharp_Corporation

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