Sharp may be close to receiving a $110 million boost from Samsung (update: deal final)

Source: http://www.engadget.com/2013/03/06/sharp-may-be-close-to-receiving-a-110-million-boost-from-samsun/

Japan's Sharp has been struggling very publicly for some time now, and many reports indicate it's been looking outward for interested investors. While it already secured just such an arrangement with Qualcomm in December, rumors indicate attempts to reach a deal with Foxconn are in trouble and now Samsung is tabbed as a potential investor. Reuters and Japan's Nikkei cite sources indicating an official announcement could come sometime today regarding a 10 billion yen ($110 million) investment that would net the Korean electronics giant a three percent piece of Sharp. This deal would be mutually beneficial as Sharp gains a place to sell more of the LCDs it's capable of manufacturing, and Samsung cheaply expands its supply of panels, with a possibility of expanding their arrangement beyond LCDs in the future. We'll wait and see exactly what happens, but those IGZO screens Sharp is working on could be popping up in some unexpected places by the time it's all said and done.

Update: Sharp has just confirmed that Samsung is now indeed a 3.08 percent owner thanks to an investment of 10.4 billion yen ($112 million). It said the deal would "further strengthen the alliance (with Samsung Electronics) and continuously provide a long-term, stable and timely output of LCD panels for large-size TVs and small- and medium-size LCD panels for mobile devices such as! noteboo k computers." For more info, see the PR after the break.

Filed under: Displays, Samsung

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Source: Nikkei, Reuters, Wall Street Journal