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Sharp Wants Employees to Buy Products


Sharp is trying to persuade its employees to buy its products in a bid to help sales.

The troubled Japanese electronics giant said it was not mandatory for staff to buy its goods, but confirmed that it wanted employees to choose its products over that of its competitors.

Japanese media had reported that Sharp had set targets for executives, managers and other staff to buy its products.

Sharp has been bailed out twice in the past three years by its lenders.

Photo Wikipedia

Photo Wikipedia

The company has been under pressure from its banks to sell its loss-making LCD business, and announced last month that it was in talks with several companies to make such a deal.

Sharp also announced that its operating profit fell by 86% in Q3 from a year ago, while the LCD unit saw a loss of 12.7 billion yen ($102 million).

The dismal earnings come after Sharp reported losses in the year to March and announced more job cuts.

According to the company’s spokesman, employee participation in the event was completely voluntary, and Sharp had not decided what products would be on sale.

Sharp, well known for its TV and solar panels, pulled out of the television market in North America and has been facing stiff competition from cheaper Chinese and Taiwanese rivals.