OSAKA – Struggling electronics maker Sharp Corp. rejected an offer from Samsung Electronics Co. to buy its copier business during talks to form a capital tieup, sources said Wednesday.
It’s unknown how much Samsung offered. The South Korean company, which sees copiers as the next growth business after smartphones, could make another buyout offer, the sources said.
Sharp regards the copier business as one of its core operations in its restructuring plan. The copier operation generates a profit on an operating basis, unlike its money-losing liquid crystal panel business.
Samsung apparently intended to expand its copier business through the acquisition of Sharp’s operation.
Under their capital and business alliance agreement announced earlier this month, Sharp said it will accept about ¥10 billion in investment from Samsung this month and increase its supply of LCD panels to the South Korean electronics giant.