Foxconn-Backed Sharp to End TV Display Production, Cut Staff
- Osaka firm to scale down display operations, sell devices unit
- Sharp was once world leader in liquid crystal displays
Foxconn-backed Sharp Corp. is exiting TV panel production and plans to seek volunteers for early retirement, abandoning a business in which it lost out to Chinese rivals.
The Japanese electronics maker is halting operations at its sprawling display factory in Sakai, Osaka, which would be used as a data center to power artificial intelligence, while scaling down production of small-to-medium-sized displays, President Robert Wu said on an earnings call Tuesday. The company also seeks to sell its electronics device segment, which includes camera modules and semiconductors, he said.