News
 

Bookmark and Share

(0) 

As the situation with display and consumer electronics maker Sharp Corp. continues to remain uncertain, new rumours about possible resolutions emerge. According to a recent report, Qualcomm may acquire 5% stake in Sharp, which will make it one of the biggest shareholder in the company. However, the amount that Qualcomm is set to invest into Sharp will not be enough to save the company.

Qualcomm, the world’s largest supplier of application processors and system-on-chips for mobile devices, may invest as much as ¥10 billion ($121.5 million) into struggling Sharp, reports Reuters news-agency citing Nikkei news-paper. The transaction would give Qualcomm a 5% stake in Sharp and the two companies would then jointly develop a new-generation energy-efficient IGZO displays.

Sharp, which market capitalization has decreased by three times this year, is expected to lose ¥450 billion ($5.7 billion) this fiscal year, which means it badly needs money to survive. Back in November it transpired that Intel and Qualcomm were in talks to invest around ¥30 billion ($378 million) into Sharp.

Sharp had been projected to make Hon Hai Precision Industry (Foxconn Electronics) its largest stakeholder adding to an earlier contract to sell the Taiwan-based contract maker of electronics a stake in its cutting-edge television LCD panel plant in Sakai, Japan. That arrangement, nevertheless, unraveled as losses and mounting debt threatened to put Sharp out of business, forcing it to seek a $4.4 billion bank bailout. Talks with Foxconn since then have stalled.

Sharp, Qualcomm, Intel and Foxconn did not comment on the news-story.

Tags: Qualcomm, Sharp, Intel, Foxconn, Hon Hai, Business

Discussion

Comments currently: 0

Add your Comment




Related news

Latest News

Monday, July 21, 2014

12:56 pm | Microsoft to Fire 18,000 Employees to Boost Efficiency. Microsoft to Perform Massive Job Cut Ever Following Acquisition of Nokia

Tuesday, July 15, 2014

6:11 am | Apple Teams Up with IBM to Make iPhone and iPad Ultimate Tools for Businesses and Enterprises. IBM to Sell Business-Optimized iPhone and iPad Devices

Monday, July 14, 2014

6:01 am | IBM to Invest $3 Billion In Research of Next-Gen Chips, Process Technologies. IBM to Fund Development of 7nm and Below Process Technologies, Help to Create Post-Silicon Future

5:58 am | Intel Postpones Launch of High-End “Broadwell-K” Processors to July – September, 2015. High-End Core i “Broadwell” Processors Scheduled to Arrive in Q3 2015

5:50 am | Intel Delays Introduction of Core M “Broadwell” Processors Further. Low-Power Broadwell Chips Due in Late 2014