Of course we in the industry keep up with this news and there are some worth sharing. This is one of those.
I have links and quotes from several sources but it all goes back to the Nikkei business daily. Here is the Reuters link. There are rumors also that Kyocera may be interested.
Why? Sharp has debt totalling $16 billion and is digging for funds to refinance money for short-term commercial paper and a large convertible bond maturing in September next year. While the company may not want to sell parts of its business, it will have little choice, more than likely, because they are desperate for money to refinance upcoming debt rollovers.
The Nikkei also reported that Sharp has also signed contracts with two overseas consulting firms to help it determine which assets to sell. Sharp stated on Friday that it is considering various options to improve operations and did not comment further. To be fair, Sharp is not currently negotiating the sale of the businesses that Nikkei has reported in their article.
What exactly does this mean for your company? Well if you are getting quotes or looking for new copier/MFP units, just be informed. Current Sharp Models include the following:
MX-3111U, MX-M314N, MX-M354N, DX-C310, DX-C311, MX-3100N, MX-3110N, MX-M363, MX-4101N, MX-4110N, MX-4111N, MX-M453, MX-M503, MX-M5001N, MX-M5510N, MX-5111N, MX-M550, MX-5500N, MX-6201N
Now, of course the company who dropped off the quote may not be aware of these reports because it not confirmed by Sharp. Financial news is at times volatile. But we do remember that it was rumors when Ricoh was buying out Ikon and that Konica and Minolta were merging. This did effect who you did business with if you had their equipment.
What to do? Maybe nothing. Just be informed. It may be wise for you to obtain other quotes from different dealers – did I mention WCC Business Solutions? You should make sure there is reliable service, parts and lease follow up and support later on. Maybe Sharp won’t sell out at all. After all it is just rumors at this point. 🙂 Upside? Copiers may be a lower priced commodity for a while if Sharp lowers its inventory.Down side? Well, we just don’t know yet. How is that Ikon working out for you?
Now, subscribe to this blog for updates if you would like. As far as getting quotes goes, contact WCC Business Solutions and we would be happy to show you a difference in quoting. We always take into account your work flow and document path as a holistic approach. After all, if we actually save you money and provide beyond what you expect. You will only be happy with one vendor there after, right? The assessment and quote are always free….