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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.

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Sharp’s operating profit fell by 86% in Q3 of 2015 from a year ago.

The Japanese tech giant’s operating profit fell to 3.5 billion yen ($29 million) in its fiscal second quarter from 24.5 billion yen in 2014.

The earnings were impacted by falling sales of smartphone displays and delays in reducing inventory.

The struggling consumer electronics maker has been bailed out two times in the last three years by its banks.

In May, Sharp announced losses in the year to March and cut more jobs.Sharp operating profit October 2015

The company has been under pressure from its lenders to sell its loss-making LCD business. The unit reported a loss of 12.7 billion yen in the quarter.

Sharp CEO Kozo Takahashi told a news conference in Tokyo that the company was in talks with several companies over a deal for its LCD unit.

“I cannot provide any names, but we are currently in negotiations with multiple companies,” he said, adding that he could not reveal a timeline for when a deal would be finalized.

In the six months to September, Sharp also saw an operating loss of 25.2 billion yen – which is its biggest half year loss in three years.

Sharp announced earlier this week that it would report an operating loss in the six month period and also lowered its annual operating profit forecast to 10 billion yen from 80 billion yen.

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