Lenovo in talks to buy TV factory

Chinese PC company Lenovo (0992.HKG) is in talks to acquire a mainland TV factory from Japanese electronics firm Sharp (6753.TYO) in addition to potentially establishing a sales joint venture with the company, Bloomberg reported, citing Japanese newspaper Nikkei. The plant in Nanjing, Jiangsu province, produces liquid-crystal-display TVs. The companies are expected to close the deal by the end of the year, Nikkei reported, without referencing sources. The joint sales venture may cover Latin America and Southeast Asia, according to Nikkei. Miyuki Nakayama, a spokeswoman for Sharp, said on Friday that the company did not reveal the information published in the Nikkei report, which did not identify sources. Raymond Gorman, a Beijing-based Lenovo representative declined to comment on the report. Lenovo’s CEO Yang Yuanqing said in a January interview that the company is interested in developing its business via acquisitions, without providing details of possible targets.