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Samsung Electronics and Sharp Corp. on Wednesday announced that the former will invest $110 million into the latter. The money should help troubled Sharp to survive, whereas Samsung will get around 3.09 Stake in the company known for its consumer electronics as well as high-quality displays it supplies Apple, a major rival and a client of Samsung.

Sharp will receive capital investment of approximately ¥10.4 billion ($110.73 million) from Samsung Electronics Japan and will issue new shares equivalent to 3.08% of the voting rights after such capital investment (3.04% if calculated based on the issued shares total).

The purpose of this third party allotment capital increase 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.

Sharp has been supplying Samsung Electronics with LCD panels for quite some time. Through this capital alliance, Sharp is going to further strengthen the alliance and continuously provide a long-term, stable and timely supply of LCD panels for large-size TVs and small- and medium-size LCD panels for mobile devices such as notebook computers.

This capital alliance will enable Sharp to secure its source of revenue from LCD business forming the company’s core. Sharp will certainly position its business for growth by continuously accelerating implementation of its business restructuring to realize a “recovery of business performance and credibility”.

Tags: Sharp, Samsung, Business

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Discussion started: 03/07/13 04:53:23 AM
Latest comment: 03/07/13 04:53:23 AM

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Shame for Sharp.
0 0 [Posted by: TAViX  | Date: 03/07/13 04:53:23 AM]
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