Samsung locks up Sharp as long-time screen provider

Japan's Sharp has secured a $110 million lifeline investment from Samsung Electronics, and agreed to become a major supplier of screens for the South Korean company's growing electronics empire. The deal gives Samsung a steady supply of screens and deals a possible blow to chief rival Apple, which has long been a major customer of Sharp. Sharp gains a massive customer in Samsung, the world's largest maker of mobile phones and smartphones. The agreement will give Samsung a 3 percent share in the struggling Japanese display maker when the investment is completed at the end of this month. Sharp is in the midst of a restructuring as it heads for a nearly $5 billion loss this fiscal year, but is still one of the world's largest LCD panel makers and possesses many cutting edge technologies. Analysts and industry observers praised the deal. To read this article in full or to leave a comment, please click here