Samsung Invests $110M in Ailing Sharp
Samsung has bought a 3% stake in Sharp, one of its competitors, in order to widen is supply base, reports Reuters. Samsung's $110 million investment follows a $120 million investment made in Sharp by Qualcomm in December. Sharp has struggled in recent years, and needs the influx of cash. Sharp's most promising product is high-resolution indium gallium zinc oxide (IGZO) display screens, which are thinner and use dramatically less energy than the OLED displays Samsung currently favors in its mobile devices. Qualcomm also wants to work with Sharp to bring its IGZO displays to market, which would be ideal for smartphones and tablets. Last, Sharp is one of Apple's key suppliers, and this investment gives Samsung a stake in the company as Apple winds down its reliance on Samsung for components.
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