Samsung Unloads Stake in Japan's Sharp
15 Settembre 2016 - 12:40PM
Dow Jones News
TOKYO—South Korea's Samsung Electronics Co. sold its stake in
Japan's Sharp Corp. earlier this month, a person familiar with the
matter said, as the conglomerate restructures its portfolio.
The Korean technology major incurred a small loss from the sale
of its stake in the Osaka-based electronics company, the person
said Thursday. In 2013, Samsung had snapped up a roughly 3% stake
in Sharp for ¥ 10.3 billion ($101 million).
The sale stemmed from Samsung's recent decision to sell its
printer unit to U.S.-based HP Inc., the person said, because the
aim of the investment had been to gain Sharp's expertise in copier
technology, particularly its patents, to expand that business. Such
intellectual property is crucial to survival in the industry, where
market leaders cross-license their patents to keep competition in
check.
Samsung's hopes of gaining Sharp's copier technology were
stymied by other industry leaders that tried to block the South
Korean company's entry into the market, the person said.
The decision to sell the stake was also influenced by the
completion of Foxconn Technology Group's acquisition of Sharp last
month, the person said. Taiwan's Foxconn, formally known as Hon Hai
Precision Industry Co., is Samsung rival Apple Inc.'s main
assembler of iPhones. Foxconn also assembles consumer electronics
for Samsung and other companies.
A Sharp spokesman Thursday said "we are not in a position to
make any comments on this matter." A representative of Samsung's
Japanese office, which the company used to sell the equity, wasn't
immediately available for comment.
Write to Takashi Mochizuki at takashi.mochizuki@wsj.com
(END) Dow Jones Newswires
September 15, 2016 06:25 ET (10:25 GMT)
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