According to The Fiji News
, Samsung has agreed to help Sharp with the company's financial problems - by buying up part of the company. The deal is worth $110 million and grants Samsung a 3% stake in Sharp.Additional Resources
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The deal is one both companies agree with. Sharp has been experiencing mounting losses leading to a change in the company's credit rating. The Japanese company was searching for a partner to help it stabilize and restructure. It would appear they have found such a partner in the South Korean Samsung.
The partnership appears to be favorable to Sharp, as the company not only receives needed funds it receives a potential consumer. Samsung can consume Sharp's products
which may help improve production for the struggling company.
With this new deal in place, Samsung will become the fifth-largest shareholder in Sharp. Several Japanese institutions remain ahead of the South Korean electronics manufacturer.