On December 4th, according to foreign media reports, Sharp and Qualcomm have reached an agreement to jointly develop energy-saving LCD panels for smartphones.
"Nihon Keizai Shimbun" reported recently that Sharp will provide its indium gallium zinc oxide technology for joint development, which can significantly reduce the amount of electricity used in panels. The newspaper said that the details of the cooperation between the two parties will be announced as early as Tuesday.
The report also pointed out that Sharp will receive 5 billion yen (about 61 million US dollars) from Qualcomm before the end of this year by way of private placement of new shares. Sharp will receive another 5 billion yen if there is any significant progress.
According to the report, if the company's closing price on Monday, the investment of 10 billion yen will give Qualcomm a stake of about 5% of Sharp.
Qualcomm and Sharp spokesperson did not respond to media interview requests.
Sharp was a pioneer in LCD technology. The company's market value has evaporated by three-quarters this year due to huge losses and constant loss of market share.
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