GO
Loading...

Sharp to Raise $110 Million by Selling 3% Stake to Samsung

Wednesday, 6 Mar 2013 | 2:23 AM ET
Photographer | Collection | Getty Images

Sharp said on Wednesday that it will raise 10.3 billion yen ($110 million) through a share offer to Samsung Electronics in a bid to bolster its finances.

(Read More: Sharp in Talks to Sell Chinese TV Plant to Lenovo)

After dilution, Samsung will own a 3 percent stake in Sharp. The struggling Japanese electronics maker said in a statement that it will supply large TV panels and expand shipments of smaller LCDs for use in mobile devices to Samsung.

  Price   Change %Change
593
---
6753.T
---

Featured

Contact Technology

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More
  • Matt Hunter is the senior technology editor at CNBC.com.

  • Cadie Thompson is a tech reporter for the Enterprise Team for CNBC.com.

  • Working from Los Angeles, Boorstin is CNBC's media and entertainment reporter and editor of CNBC.com's Media Money section.

  • Jon Fortt is an on-air editor. He covers the companies, start-ups, and trends that are driving innovation in the industry.

  • Lipton is CNBC's technology correspondent, working from CNBC's Silicon Valley bureau.

  • Mark is CNBC's Silicon Valley/San Francisco Bureau Chief covering technology and digital media.