Sharp to target wealthy Cellphone Users in China (go back »)

Sharp Corp will target wealthy users in China with its mobile phone launch later this month, seeking growth in a market that has defeated its Japanese peers.Sharp is aiming for upscale users in Shanghai and Beijing to avoid direct competition from lower-priced phones by global leaders such as Nokia and Samsung Electronics Co Ltd , which have greater economies of scale.The move follows pull-outs by fellow Japanese handset makers Matsushita Electric Industrial Co , NEC Corp and Kyocera Corp , which failed to earn a profit in price-competitive China despite a lineup of some of the world's most cutting-edge phones.Sharp will begin selling its first China handset -- an adapted version of the Japanese 920SH marketed by carrier Softbank Corp -- later this month for a price officials said would be "at least 3,000 yuan" ($434).Sharp, the largest handset maker for the Japan market, will supply two or three additional Japanese models in China by year-end, said Yoshisuke Hasegawa, group general manager of Sharp's communication systems group."We hope the business will be able to stand on its own two feet " in 2009/10, he told reporters after a news conference. "The next step could be India or Indonesia -- growth lies overseas."Shares of Sharp closed down 2 percent at 1,684 yen, in line with the benchmark Nikkei average , which fell 2.1 percent.