Sharp Corp and Qualcomm Inc reached a deal to jointly develop an energy-efficient LCD panel for smartphones using the Japanese company’s display technology, the Nikkei reported.<\/p>\n
Sharp will provide its indium-gallium-zinc oxide technology, which greatly reduces a panel’s power use. Full details are expected to be announced as early as Tuesday, the daily said.<\/p>\n
Sharp will receive 5 billion yen ($61 million) from the U.S. chipmaker by the end of this year through a private placement of new shares. Sharp will receive an additional 5 billion yen or so once sufficient progress has been made, the newspaper reported.<\/p>\n
A 10 billion yen investment would give Qualcomm a roughly 5 percent stake in Sharp based on Sharp’s Monday closing price, the daily noted.<\/p>\n
Qualcomm and Sharp representatives were not immediately available for comment.<\/p>\n
Sharp, which pioneered LCD technology, has lost three-quarters of its market value this year following massive losses and falling market share.<\/p>\n
1080p smartphone displays a waste<\/a><\/strong><\/p>\n Sharp producing 5-inch 1080p smartphone displays<\/a><\/strong><\/p>\n