The struggling Sharp today confirmed that Samsung will invest 10.4 billion yen (about $112 million) in the company in order to buy a 3.08 percent stake, gaining an access to its display technology. The deal is one of much-speculated of its type and with the confirmation things turned clearer.
Samsung which already being a Sharp customer from quite good time will see the investment will “further strengthened” with the company committing to provide LCD panels for large TVs as well as small- and medium-sized LCDs for mobile devices.
“The purpose of this [deal] is to build up mutual trust relationship toward increase in the corporate value of Sharp and Samsung Electronics in the field of liquid crystal display business, and at the same time to enhance Sharp’s capital adequacy,” a statement announcing the deal read.
(Image Source: Sharp logo, Featured Image)