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Samsung offloads stake in Sharp after Foxconn takeover

Samsung has ended its involvement in Sharp, selling its stake in the Japanese electronics company. A change in ownership at Sharp, as well as a new business strategy from Samsung, lead to the decision.

Back in March, Foxconn – which manufacturers products for Apple – agreed to buy Sharp and last month the sale was concluded.

Given Foxconn’s status as a manufacturing partner of one of Samsung’s biggest rivals, the new ownership structure at Sharp was always likely to lead to changes.

Another contributing factor was Samsung’s recent decision to exit the printer market, selling its printer business to HP.

One reason why Samsung became involved with Sharp in the first place was the Japanese company’s expertise in the printer market. Of particular interest to Samsung was Sharp’s copier technology and associated patents.

[via NASDAQ.com]