Samsung Buys 3% Of Sharp, Escalates Mobile Device War

Foxconn, meanwhile, is eyeing its own 10% stake in the company.

Samsung is investing 10.4 billion yen, roughly $112 million, to buy just over 3% of Sharp. The deal helps support fiscally unstable Sharp and will give Samsung privileged access to Sharp's LCD business, which may help Samsung's business of building TVs, tablets, and smartphones. Samsung is already a Sharp customer.

Foxconn, Apple's most prominent Chinese manufacturing partner, has been in negotiations with Sharp over possibly buying a 10% stake in the company. But recent rumors suggest the two are about to suspend their deal over disagreements on price. In late 2012 it was suggested that Apple had directly tried to help Sharp by injecting $2 billion into the company in order to assure parts delivery for its critical iPhone 5 device.

[Image: Flickr user Pop Culture Geek]

Add New Comment

0 Comments