Apple Supplier Sharp To Boost Samsung Business In Bid To Stay Viable

Sharp Corp, Japan’s leading maker of liquid crystal displays, will rely on expanding supplies of small panels to Samsung Electronics Co while still shipping screens to rival Apple Inc, in a bid to raise factory output levels and remain viable, three sources said.

In a midterm business plan it aims to release on Tuesday when it announces its latest earnings results, Sharp will set a goal of raising annual operating profit to $1.5 billion by March 2016 on revenue of $30 billion, the sources familiar with the plan told Reuters on condition they remained anonymous.

Reuters