Sharp’s future in doubt as Japanese tech continues to flounder

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Sharp is forecasting a second year of huge losses, predicting a 450 billion Yen ($ 5.6 billion) loss for the current financial year. With the forecast, it issued a statement accepting that there is “material doubt” over the future of the century-old company, but outlined austerity measures that it says will ensure it stays afloat. Sharp outlined plans to cut 5,000 jobs back in August, but at the time it forecast its yearly loss at “just” 250 billion Yen ($ 3.1 billion), meaning that in the past three months that figure has grown by a staggering 200 billion Yen ($ 2.5 billion). A deal with Hon Hai was supposed to put around $ 800 million into Sharp’s coffers in exchange for around a 10 percent stake in the struggling company, but falling…

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