Samsung Signs Deal to Buy 3% Stake in Sharp

Posted March 6, 2013 at 4:55pm by iClarified | Please help us and submit a translation by clicking here | 4019 views

Samsung has signed a deal to purchase a 3% stake in Sharp, a key supplier of screens to Apple, reports the WSJ.

The ¥10.4 billion ($110 million) being invested by Samsung will help Sharp keep its operations afloat and prove to lenders and customers that its prospects are solid.

"The investment is set to fortify the partnership between Samsung and Sharp and also lay a firm foundation for Samsung to secure a steady supply of LCD panels from diversified sources," the South Korean company said.

Sharp was forced to look to its rival for help after a larger ¥66.9 billion investment deal with Hon Hai fell through due to the company's poor performance.

Analysis of Apple's capital expenditures reveals that the company may have spent $2 billion to prevent Sharp from going under.

It's unclear how Sharp's deal with Samsung will affect their relationship with Apple moving forward.

Read More


Share
Add Comment
Follow iClarified
Meerkat Live Stream Video App Gets In-App Notifications, Better Stream Discovery, More
Tim Cook Deeply Disappointed in Indiana's New Law, Says 'Apple is Open for Everyone'
Vine Now Supports HD Video
Twitter has updated Vine to support 720p HD v...
Apple Announces Grand Openings of Apple Watch Shops in France, Japan, and the U.K.
Hugely Offensive Ad Declares Apple is Hitler [Image]
Jia Yueting, billionaire CEO founder of Chine...