Virginia Beach Hotels | "Samsung to invest $112 million in Sharp, an Apple supplier"

Source      :  http://www.latimes.com
Category   :  Virginia Beach Hotels
Posted By  :  Hotels in Virginia Beach North Courtyard


Samsung is investing $112 million for a 3% stake in struggling Japanese electronics maker Sharp -- a key supplier to rival Apple.

The South Korea company will purchase nearly 36 million shares at a price of about $3.11 in a move aimed to strengthen the two companies' relationship, Sharp said. The deal is expected to be completed by March 28.

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Samsung's investment probably will lessen Sharp's dependency on Apple. Currently, Sharp supplies screens for Apple's iPad and iPhone 5 devices.

Sharp said in a statement Wednesday the investment would help provide Samsung with a "stable and reliable supply of LCD panels."

The deal could also give Samsung access to Sharp's screen technology as its competition with rival Apple intensifies.