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MENAFN - 04/12/2012

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(MENAFN) Sharp Corp. announced that US Qualcomm Inc. would invest USD120 million in the Japanese electronics manufacturer, reported AP.

The company said that the investment would be be used to finance joint development of new LCD screens for mobile devices.

The company in collaboration with 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.

It added that Qualcomm's investment would be made in 2 stages; however, the cash wouldn't be sufficient to completely stabilize Sharp's finances.

It is worth noting that Sharp has been struggling with losses and had its credit rating lowered to junk by Fitch Ratings and Standard & Poor's.

 






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