View Full Version : Sharp to tap Samsung, banks for survival after $5.4 billion loss

Tech Bot
14th May 2013, 14:00 ( Reiji Murai and Tim Kelly TOKYO (Reuters) - Japanese display maker Sharp Corp, a supplier to Apple Inc, will aim to boost sales to the iPhone maker's rival Samsung Electronics Co under a three-year rehabilitation roadmap after posting a worse-than-expected $5.4 billion net loss in the last financial year. The business plan, released on Tuesday, will also lean on banks for another 150 billion yen ($1.5 billion ) in funds after they saved it last year from failure, with a 200 billion yen convertible bond falling due in September. ...

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