Apple supplier Sharp tumbles as trade gloom offsets Vietnam plant plans [Reuters (UK)]
SHARP CORP UNSP/ADR (SHCAY)
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Source: Reuters
Apple supplier Sharp tumbles as trade gloom offsets Vietnam plant plans - Reuters 2 Min Read TOKYO (Reuters) - Shares of Apple supplier Sharp Corp tumbled 14% on Friday given concerns about an escalating China-U.S. trade war, even as the Japanese firm said a day earlier that it would build a plant in Vietnam to ease any impact on its business. Sharp, which makes sensors, camera modules and screens for Apple Inc’s iPhones, said late on Thursday the new plant in Vietnam will make flat screens, electronic devices and air purifiers from the fiscal year starting in April next year. The plant will allow it to shift part of its production from China if requested by customers, a Sharp executive said on Thursday after announcing a plan to set up a unit in Vietnam with $25 million capital to manage the factory. But Sharp shares logged their biggest daily percentage drop since June 2016 on Friday, following U.S. President Donald Trump’s threat to impose further tariffs on Chinese imports from ne
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