Sharp's (SHCAY.PK) future looks a little more secure after confirming that Samsung (SSNLF.PK)...

|About: Sharp Corp. ADR (SHCAY)|By:, SA News Editor

Sharp's (SHCAY.PK) future looks a little more secure after confirming that Samsung (SSNLF.PK) has agreed to invest ¥10.3B ($110M) in the struggling Japanese company in return for a 3% stake. Sharp will also provide large TV panels to the Korean firm and increase the shipments of smaller LCDs. Samsung's investment adds to a $120M injection from Qualcomm (QCOM) in December. Sharp's shares surged 14.05% in Tokyo on reports of the latest deal. (PR)