Sharp needs to restructure due to financial troubles and one part of that restructure could be spinning off its smartphone LCD division. Nikkei, the Wall Street Journal, and Reuters report the company is going to spin off that division to save money and the spin off will occur by March 2016.

It's been reported this change at Sharp could be announced as early as this month and therefore the announcement would come before a full restructuring plan is unveiled.

The smartphone LCD business is tough and Sharp may have to change its operations in that area as a result.