Qualcomm to Invest $120 Million in Japan’s Troubled Sharp

Qualcomm Inc will invest as much as $120 million in Sharp Corp, a cash injection likely to make it the struggling Japanese TV maker’s biggest shareholder, and to boost Sharp’s efforts to remain viable.

As part of the agreement Qualcomm, through its Pixtronix subsidiary, will work with Sharp – which supplies screens to Apple Inc for its latest iPhone – to develop new power-saving screens based on Sharp’s IGZO technology, Sharp said.

The two firms will also consider collaborating in the fabrication of chipsets.

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