Sharp Selling Its Share of Pioneer

Sections: TVs, Video

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Sharp Pioneer EliteSharp and Pioneer have been interesting bedfellows for a while now, what with the former now carrying the latter’s Elite brand for its upscale LED/LCD TVs, but I didn’t realize that Sharp was Pioneer’s largest shareholder — with a stake of 9.2 percent, or 30 million shares — until news broke earlier this week that the company is trying to sell those shares to help “meet the redemption in September of around ¥200 billion in convertible bonds.”

What isn’t clear is how — or if — such a sale will affect the Elite-branded TV line, although the story does say that “The two companies, which formed a capital and business tieup in 2007, intend to keep collaborating and Pioneer will retain its 0.8 percent stake in Sharp.”

Contact info:
Elite TV

Via: [ZDNet]

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