Qualcomm to invest $120M in Japan's Sharp

Dec 04, 2012

Sharp Corp. says Qualcomm Inc. will become a shareholder with an investment of up to 9.9 billion yen ($120 million) that will fund joint development of new LCD screens for mobile devices.

The Japanese electronics manufacturer has been struggling with record losses and had its credit rating downgraded to junk by Fitch Ratings and Standard & Poor's. There has been regular speculation Intel or another technology company would become a shareholder but no major deal has materialized yet.

Sharp said Tuesday that it and Qualcomm's Pixtronix Inc. unit will develop small displays that have high color resolution and low power consumption based on Sharp's "IGZO" display technology.

Qualcomm's investment in Sharp will be made in two stages. The injection of cash is not sizeable enough to completely stabilize Sharp's finances.

Explore further: Viacom CEO's 2014 pay rises 19 percent to $44.3 million

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Moody's downgrades troubled Sharp's ratings

Sep 05, 2012

(AP)—Moody's Investors Service has downgraded Sharp's short-term ratings to the lowest "Not Prime" category, citing the Japanese electronics maker's debts and price drops in its main product, liquid-crystal displays.

Sharp to cut 5,000 jobs as quarterly loss worsens

Aug 02, 2012

(AP) — Japanese electronics maker Sharp Corp. is slashing 5,000 jobs over the next year, or nearly 9 percent of its global workforce, after its quarterly loss ballooned from a year earlier.

Recommended for you

NHL sends GoPro cameras onto the ice

Jan 23, 2015

Ice hockey fans will get a new perspective on the fast-moving game when National Hockey League players don GoPro cameras, starting with this weekend's all-star fixture.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.