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Japan's electronic giant Sharp sees hopes in China

Monday, 8 June 2009


TOKYO, June 7 (AFP): Japanese electronics giant Sharp Corp. said Friday it aimed to expand its presence in China but expected continued weakness in Europe and the United States.
The company, known particularly for its liquid crystal displays and solar power cells, said it aimed to become the top TV brand in China and promised to build a factory there.
"We have been talking with our partners" about a plant in China, president Mikio Katayama told journalists in Tokyo. "We want to make high quality products at low cost in China," he said without giving details.
The company, maker of the popular AQUOS brand of LCD televisions, expects to return to profit this fiscal year to March, after suffering its first annual loss last year amid the global economic slump.
Katayama said Japan and China provided opportunities, thanks to swift and massive government stimulus measures, in addition to the robust purchasing power of the Chinese middle class.
Sharp hopes to sell 1.2 million LCD televisions in China in the year to March as part of a worldwide target of 10 million units sold worldwide. The company sold 1.04 million LCD televisions in China in the last fiscal year.