Qualcomm to invest $120M in Japan's Sharp

December 4, 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: Moody's downgrades troubled Sharp's ratings

0 shares

Related Stories

Moody's downgrades troubled Sharp's ratings

September 5, 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

August 2, 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

'Personal flying machine' maker plans deliveries this year

April 24, 2017

A Silicon Valley "flying car" startup, Kitty Hawk, reportedly backed by Google co-founder Larry Page, released a video Monday of its airborne prototype and announced plans for deliveries of a "personal flying machine" this ...

0 comments

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.