Sharp and Samsung copier joint talks break down

Sina Science and Technology hearing Beijing time August 29 afternoon news, according to Japan's Kyodo news agency, Sharp has canceled a joint venture with Samsung to form a sales company of copiers. Before Sharp made the decision, Kyodo said other Japanese companies, such as Canon, had objected to the plan, fearing that the key technology of Japanese companies would fall into the hands of the South Korean technology giant. The global copier market is currently dominated by Canon, Ricoh, Colt Minolta and Sharp. These Japanese companies, together with Xerox, share about 80% of the world's A3 copier sales. However, the joint Agency quoted people familiar with the matter as saying that Sharp is still in other negotiations with Samsung, hoping to as an OEM manufacturer to the Korean company to supply washing machines and refrigerators. Samsung had previously offered to buy Sharp's copier business, but was rebuffed by sharp. After that, the two sides began negotiations on the establishment of a joint-sales company for photocopiers. Sharp's acquisition of about 10.38 billion yen (about $106.24 million trillion) in March this year has created a business-capital partnership. (PEI)