Sharp and Qualcomm have signed an agreement that will allow both companies to work together on the creation of new LCD panels with lower power consumption for smartphones and the like.
The cooperation will include Sharp’s IGZO panels and financing from Qualcomm to futher improve Sharp’s panels and make them profitable on the market. Qualcomm will inject 61 million US dollars in Sharp with more financing possible down the road. In return Qualcomm will get up to 5 per cent of Sharp’s shares. As of now there’s no information when Sharp’s new panels will reach commercial availability.
Sharp has been losing market share and money in the past one year and the company needs fresh money in order to bring new products to market. Qualcomm and Sharp did not comment on the story.
Source: Reuters