Samsung invests $112 million in Japan’s SharpAssociated Press
SEOUL, South Korea— Samsung Electronics Co. is investing 10.4 billion yen ($111.5 million) in Sharp Corp. to secure a supply of large-size LCD panels.
Samsung announced the deal Wednesday. The agreement gives Samsung a 3 percent stake in Osaka-based Sharp and a supply of large-size LCD panels for televisions.
The alliance is expected to help the troubled Japanese company that has been seeking to raise capital as part of its turnaround plan.
Sharp announced in December a 9.9 billion yen investment from Qualcomm Inc. to jointly develop future display technology. It has been in talks with Taiwan-based Hon Hai Precision Industry Co. to raise capital.
The deal is the latest investment in Japanese firms by Samsung. In January, it acquired a 5-percent stake in Wacom Co., a Japanese firm with digital pen technology.
Recent Stories:Rainfall warning in NCR, 4 provinces downgraded to Orange 43 mins elapsed Aquino rules out China attack 59 mins elapsed Sept. 23 is now Nat’l Voter Registration Day in the US 1 hour elapsed Cardinals debate marriage before crucial meeting 1 hour elapsed Fil-Ams of Los Banos, California still giving to Haiyan rehab 1 hour elapsed In defense of Parokya ni Edgar’s Chito Miranda 1 hour elapsed ‘Mario’ slightly weakens; signal No. 2 still up in Cagayan, 4 areas 2 hours elapsed Fil-Am achievers speaker series begins 2 hours elapsed