“We initially showed interest to take over Sharp’s photocopier operation, but Sharp refused the proposal,” Chenny Kim, a spokeswoman for Samsung, said by phone today, without disclosing a price. Miyuki Nakayama, a spokeswoman for Sharp, confirmed the approach was rejected.
Samsung, the biggest maker of smartphones, said March 6 it will buy about 3 percent of Osaka-based Sharp for 10.4 billion yen ($108 million) to secure liquid-crystal displays for phones and televisions. The unprofitable Japanese company is trying to raise funds with capital alliances and asset sales after forecasting a record full-year loss of 450 billion yen.
Suwon, South Korea-based Samsung is tightening its focus on the company’s imaging business as high-end smartphones, its biggest profit driver, crimp camera demand with high-quality picture functions.
Samsung’s offer for Sharp’s copier unit was reported earlier today by Sankei, which didn’t provide a value for the business.
To contact the reporter on this story: Jungah Lee in Seoul at firstname.lastname@example.org
To contact the editor responsible for this story: Michael Tighe at email@example.com