Sharp tells its employees to buy its own products to help it get out of financial hole

Electronics company Sharp is currently in a critical point of desperation to get out of the financial crisis it is currently experiencing. It's now asking its employees to buy the company's own products, to finally be able to earn some revenue.

The Japanese company has also devised a plan on how much its employees should spend on Sharp products. Company executives should reportedly spend at least 200,000 yen (roughly $1,622) by the end of January, while middle managers are asked to buy 100,000 yen (roughly $811) worth of products. Lastly, front line staff are asked to spend 50,000 yen (around $405).

Despite this push, Sharp said that it's not mandatory for its staff to buy its products, but emphasized that it wanted its employees to choose the brand over competitors. Yoshisuke Hasegawa, Sharp's head of electronics, said that the move was to help the firm "weather this extreme difficulty."

The employees can choose from a wide variety of products like television sets, washing machines, audio systems, smartphones, microwave ovens, among others. To encourage employee participation, a 2% discount is being offered to sweeten the deal.

Sharp is famous for its television sets and solar panels, and has been actively manufacturing smartphones and tablet computers. The company has already withdrawn from the North American market, and is currently facing stiff competition in the Asian market, particularly from Chinese and Taiwanese rivals.

Source: Digital Trends | Sharp products on showcase image via Kobby Dagan / Shutterstock.com

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