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Sharp Sees Third Year of Double-Digit U.S. Growth

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(Corrects to show that Osawa is chairman and CEO of U.S. unit in first paragraph.)

Jan. 7 (Bloomberg) -- Sharp Corp. is on track to post double-digit sales growth in the U.S. for the third-straight year, said Toshiyuki Osawa, chairman and chief executive officer of the company’s U.S. unit.

The components business will double sales in the fiscal year through March 31, Osawa said at the Consumer Electronics Show in Las Vegas.

The maker of Aquos TVs said in November there was “material doubt” about its ability to survive after hemorrhaging 103 billion yen ($1.2 billion) in cash from operations in the fiscal first half amid falling demand and competition from Samsung Electronics Co. Sharp turned to Qualcomm Inc., the biggest maker of mobile-phone chips, for as much as 9.9 billion yen in new capital after failing to secure a planned investment from Foxconn Technology Group.

To contact the reporter on this story: Tim Culpan in Las Vegas at tculpan1@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net

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