Sharp Issues Profit Warning

Interesting....., last week we get reports that Sharp USA sold their Headquarter in NJ, only to lease it back. Then I get an email earlier today about a rumored GIANT acquisition in the industry.  Now, I get this Sharp financial update with an unknown source claiming that Sharp will lose billions (yen that is).  Very interesting indeed.

Another Ricoh acquisition?

Japan's Sharp (IW 1000/160) saw its shares plunge in Tokyo on Monday following a report that said the consumer electronics giant would fall back into the red, reversing company forecasts for an annual profit.

The firm's shares dropped 8.73% to 230.0 yen by the close of trading.

Japan's leading Nikkei business daily said the Osaka-based firm would report a loss that could amount to hundreds of millions of U.S. dollars for the fiscal year through March owing to a slump in its struggling television business.  more here

Sharp has been down this road before.  They have a  history of surviving.   Remember when IKON dropped Sharp?  Everyone thought they were doomed.   They are still here today.  I think they will overcome this storm. 

I do remember when ikon dumped sharp, and sharp was a dominant player them.  After Ikon, Sharp not doing so well with copiers

Remember when Global Imaging dropped Sharp?

yeti< no I don't, when did that happen?

Ricoh doesn't have the money to buy anyone else. Let alone, I doubt they want to go down the acquisition road again after thenIkon fiasco. Samsung is the one who has the cash to buy anyone in the industry. Year before last they had 32 billion in cash on hand at year end they had to spend for tax purposes etc.