Sharp Receives Over $100 Million From Samsung
Sharp has confirmed that they are receiving around 10.4 billion yen (roughly $111.6 million) in investment from Samsung. This gives Samsung a 3% stake in Sharp. Samsung is now the largest individual shareholder in Sharp that is not a financial institution and they are the fifth-largest stakeholder overall.
Samsung will get access to Sharp’s LCD supply (specifically 32-inch TV screens). Sharp will use the funding to expand and improve their TV and smartphone panel production.
Previously Sharp discussed an investment with Hon Hai Precision (Foxconn) to sell a significant stake in the company, but the talks ended after Sharp’s share price dropped rapidly. The deadline for Sharp to work with Hon Hai on the deal expires on the 26th of this month. This past December, Qualcomm invested around $120 million into Sharp.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry