Sharp to open new Vietnam factory in 2020

By Hung Le   August 1, 2019 | 10:00 pm PT
Sharp to open new Vietnam factory in 2020
A logo of Sharp Corp is pictured at the Makuhari Messe in Chiba, Japan. Photo by Reuters/Toru Hanai.
Japanese electronics giant Sharp has announced plans to build a new factory near Ho Chi Minh City which will begin operations in 2020.

The plant would assemble car LCD screens to be exported to the U.S, and some personal computer production by subsidiary Dynabook could shift to it as well, Nikkei Asian Review newspaper quoted the company as saying on Thursday.

It would also make air purifiers and other electronics for sale in Vietnam, Sharp said. But it did not disclose the cost of building the factory.

Sharp reported a net profit of 12.54 billion yen ($117.15 million) for the second quarter of 2019, down 34.7 percent year-on-year as sales edged down 3.5 percent to 515 billion yen.

The U.S. trade dispute, punctuated by tit-for-tat import tariffs spanning industries, has slowed demand for consumer electronics worldwide, hitting both Sharp and its Taiwanese parent Foxconn, the world’s largest contract manufacturer, Reuters reported.

Hon Hai Precision Industry, better known as Foxconn, and its associate companies own 53.87 percent of Sharp.

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