Global electronics company Sharp Corporation has been actively looking for partners in the country for setting up a display fab under the India Semiconductor Mission’s (ISM) scheme for display fabrication facilities
The Japanese company is in discussions with several Indian players for the same, and top executives from its display vertical have met potential partners
Sharp, having set up display fabs for partners in countries like China, Korea and Taiwan, is now looking at India at a similar strategy to partner with a strong Indian player who will take the lead on the project
With India pushing the pedal on becoming a global semiconductor manufacturing hub, Foxconn-backed global electronics company Sharp Corporation has been actively looking for partners in the country for setting up a display fab under the India Semiconductor Mission’s (ISM) scheme for display fabrication facilities.
As per ET, citing a source, the Japanese company is in discussions with several Indian players for the same, and top executives from its display vertical have met potential partners.
Inc42 has reached out to Sujai Karampuri, Sharp India chairman, for comments on the development. The story will be updated based on the response.
“They have received a positive response from some and are in advanced stages of discussion and should announce their partner by the end of the year,” the report quoted the source as saying.
“Sharp has engaged in setting up display fabs for partners in other countries like China, Korea and Taiwan. In India, too, they are looking at a similar strategy wherein they are looking to partner with a strong Indian player who will take the lead on the project and they will provide their technical expertise,” the source also said.
Sharp Corporation primarily manufactures and sells telecommunications equipment, electric and electronic application equipment, and electronic components. The company’s majority stake was acquired by Foxconn in 2016 in a $3.8 Bn deal.
Sharp India- Smart Business & Appliances Solutions is a wholly-owned Indian subsidiary of Sharp Corporation, with its presence spread across 13 cities in the country. It is supported by a strong sales and service force, with a host of market-leading B2B and B2C products.
Reports of Sharp’s plans to invest up to $5 Bn to set up a display fab in India has been circulating for months now, as per reports.
“We are scouting for partners – local investors and the state government as partners as well as the government of India as a partner. The project will be under the India Semiconductor Mission scheme,” Karampuri was then quoted in the Times of India report.
This comes at a time weeks after the union electronics and information technology minister Ashwini Vaishnaw said that the government will kick off the second phase of the India Semiconductor Mission (ISM) in the next three to four months.
The second phase will widen the scheme’s scope and will aim to bring component companies, raw material suppliers, and others in the semiconductor ecosystem to India, besides just semiconductor fabrication and chip packaging units.
