Foxconn-Backed Sharp to End TV Display Production, Cut Staff (1)

Foxconn-backed Sharp Corp. is exiting TV panel production and plans to seek volunteers for early retirement, abandoning a business in which it lost out to Chinese rivals.

The Japanese electronics maker is halting operations at its sprawling display factory in Sakai, Osaka, which would be used as a data center to power artificial intelligence, while scaling down production of small-to-medium-sized displays, President Robert Wu said on an earnings call Tuesday. The company also seeks to sell its electronics device segment, which includes camera modules and semiconductors, he said.

Sharp said it will power off the TV panel plant by ...