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No truth in rumours that Sharp will quit or sell solar business, says executive

No truth in rumours that Sharp will quit or sell solar business, says executive

Sharp's solar cell business has struggled to cope with tough price competition from rivals in China and slow housing starts in Japan, adding to its losses.

Tokyo: Sharp Corp will continue making solar cell products at its Sakai plant and there is no truth to speculation it will sell or exit the business, an executive at the money-losing electronics maker said on Monday.

"There is no truth to talk that we will quit, or sell, the solar business," Kazushi Mukai, head of Sharp's energy system solution business, told reporters at the company's state-of-the-art solar cell plant in Sakai, western Japan.

Sharp is negotiating its second major bailout since 2012, with bankers calling for a radical overhaul and exit from loss-making businesses.

Its solar cell business has struggled to cope with tough price competition from rivals in China and slow housing starts in Japan, adding to losses from its TV and LCD display operations.

first published:March 30, 2015, 15:14 IST