Empire Digital Products Says Sharp will be ‘Swallowed Whole’ by Samsung

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Following a recent CNET article about how Sharp declined a $111 billion offer from Samsung, Empire Digital Products releases a statement.

On March 25, 2013, Empire Digital Products releases a statement following a CNET article by Don Reisinger regarding the news of Samsung trying to acquire Sharp’s printer and copier division.

According to CNET, Samsung recently announced that it was buying a three percent equity stake in Sharp for $111.3 million. Sharp declined Samsung’s offer when they tried to incorporate the printer and copier division of Sharp into the deal.

CNET reports that, “For Sharp, accepting such a deal would have been a catch-22. The company needs to repay a $2.1 billion convertible bond by September, and it likely could have gotten a significant piece of that by selling its printer and copier operation. However, that operation is one of the few bright spots in its business.”

According to CNET, Sharp would use the $111.3 million funds to build its capital position, while Samsung tightens its grip on the liquid crystal display Sharp makes. Sharp’s market share across several different industries is declining, and the money from Samsung could help get Sharp back on track reports CNET.

Representative of Empire Digital Products, Scott Brodsky, commented on the recent exchange between Samsung and Sharp. “If Samsung had managed to gain ownership over Sharp’s printer and copier business it would have been huge. Sharp is already a well known name, but with the backing power of Samsung and the money the company has, there’s no telling what they could have done in the printer and copier business. This deal may not have gone through this time but it is only a matter of time before Sharp is swallowed whole by Samsung.”

Founded by one of the industry’s top professionals, Empire Digital Products has revolutionized the copier industry. With access to over 50 service staff and multiple warehouses, there is nothing we do not have and no place we cannot be. Currently, EDP boasts a 98% client retention rate – which, in such a competitive industry, is something we see as a testament to our hard work and dedication to our clients.

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Scott Brodsky
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