Sharp mortgages itself to the hilt just to keep going

Sharp has mortgaged its offices and factory buildings in order to raise the cash it needs to stay in business, according to Reuters. It's cut a deal with banks for nearly $2 billion in short-term credit secured on its assets -- including the factory that reportedly produces displays for the iPhone. Sharp had pinned its hopes on cash from Hon Hai, but the Chinese giant is apparently delaying the money in the hope of gaining more control over Sharp's business. In response, Sharp has pledged to send president Takashi Okuda to meet Hon Hai's Terry Gou in Taipei -- just as soon as it's scraped together the air-fare.

Filed under: Cellphones, Displays, Home Entertainment, HD, Mobile

Sharp mortgages itself to the hilt just to keep going originally appeared on Engadget on Thu, 06 Sep 2012 06:41:00 EDT. Please see our terms for use of feeds.