Sharp Will Not Sell Copier, Printer Business to Samsung

Samsung and Sharp recently announced a US$111 million deal where Samsung will have a 3% stake in Sharp. But Samsung will not get its hands on any of Sharp’s copier and printer business.

Reports reveal an ownership agreement might have been reached by Samsung and Sharp but the Galaxy handset maker’s grab for a crucial piece of Sharp’s business, however, is not included.

Samsung tried to acquire Sharp’s printer and copier division. But a Sharp spokeswoman says Sharp had refused Samsung’s offer.

Though Sharp can obtain a substantial amount to repay its $2.1 billion convertible bond due in September, it declined to sell the division because the printer and copier division is one of its few promising businesses.

Sharp has been losing cash, and its market share is on the decline. It would use the funds from Samsung to build its capital position.