With Sharp Deal, Samsung Steals a March on AppleBy
Samsung announced today that it had bought a 3 percent stake in display maker Sharp for ¥10.4 billion ($111 million). As Bloomberg News points out, the deal offers a slender lifeline for Sharp, which has forecast a record loss of ¥450 billion for this year. The company has been desperately trying to raise funds to stave off collapse, selling shares to Qualcomm, the U.S. semiconductor company, and trying—but ultimately failing—to sell a stake to China’s Foxconn.
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