Samsung set to give Sharp US$110m lifeline

Samsung Electronics is set to invest US$110 million (HK$853.1 million) in Sharp, ensuring it a stable supply of TV panels and bolstering the survival chances of the Japanese maker of Apple iPhone and iPad screens.

Shares in Sharp jumped as much as 19 per cent in early trade on the news.

The investment would give Samsung a 3 per cent stake in the Japanese LCD pioneer, three sources familiar with matter told Reuters, making it a leading foreign shareholder alongside chipmaker Qualcomm, which in December agreed to invest as much as US$120 million (HK$930.7 million).

via Business feed http://www.scmp.com/business/companies/article/1182355/samsung-set-give-sharp-us110m-lifeline