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Samsung invests $112 million in Japan’s Sharp

/ 03:57 PM March 06, 2013

AP FILE Photo

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.

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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.

TAGS: Japan, LCD panels, Samsung, Samsung Electronics, Sharp Corp., technology
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