Samsung to buy Sharp’s shares with 10.4b yen for OLED techn
Samsung has planned to acquire 3% of Sharp with 10.4 billion yen (HK$856.8 million) to use OLED technology to widen the gap with rival Sony. The OLED technology will offer sharper, brighter images while consuming less power for its liquid crystal displays for smartphones and televisions.
The firm, with 37.4 trillion won (HK$265.5 billion) of cash, is investing in OLEDs to boost sales of the ultra-thin sets that typically cost three times more than LCD models. Samsung and LG Electronics are depending on the new technology to counter slowing global demand for televisions.
"Samsung is reducing its LCD production and shifting its focus more to OLED technology," said Kim Sung-in, an analyst at Kiwoom Securities. "LCDs aren't making big money anymore."
It is paying 290 yen a share for its stake in Sharp, or 15 per cent less than Wednesday's closing price. The share sale will close on March 28, according to the filing.

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