OSAKA, March 28 (Xinhua) -- Japanese electronics manufacturer Sharp Corporation announced Thursday that it received 10.3 billion yen (about 109.4 million U.S. dollars) in investment from Samsung Electronics, the world's No. 1 maker of smartphones, chips and flat screens.
The new investment which gives Samsung a 3 percent stake in Sharp was agreed earlier this month between the two companies, and the capital tie-up is expected to improve the Japanese electronics maker's financial situation.
Heihachiro Ochiai, a spokesperson for Sharp, said that the capital alliance will allow the Osaka-based company to expand its long-term and stable supply of liquid crystal display (LCD) panels, providing Samsung with state-of-the-art, large-sized LCD panels for TVs and small and medium-sized panels for smartphones and notebook computers.
Meanwhile, the spokesperson told Xinhua that talks on another alliance between Sharp and Taiwan's Hon Hai Precision Industry will continue although the deadline for the Taiwanese firm to buy a stake in Sharp passed Tuesday without any deal.
The two companies reached a year ago a basic agreement for Hon Hai to purchase newly issued Sharp shares at 550 yen each, but the Taiwanese firm was seeking to revise the terms of their agreement over the past months after Sharp's share price plunged.
Strong wind, thunder hit Liuzhou City in S. China's Guangxi
Feedback
RSS
