Qualcomm Pumps $120 Million into Display Joint Venture with Japan’s Sharp
Qualcomm is buying a stake in the struggling Japanese electronics manufacturer, Sharp for US$120 million, and setting up a joint-venture for the production of display screens.
this initiative is thts its equity investment in sharp and expanded joint development agreement build upon the existing work between Sharp and Qualcomm’s subsidiary company, Pixtronix as the two companies have been engaged in development activities for the last year and a half.
The development for commercialization of MEMS display will be achieved by integrating Sharp’s core display technology, IGZO and MEMS display technology of Pixtronix.
Derek Aberle, executive vice president and group president of Qualcomm said:
[quote]”Expanding our existing relationship with Sharp to jointly commercialize new MEMS display technologies will help both companies realize their shared goal of driving high performance, lower power displays for a variety of devices, including smartphones and tablets.[/quote]
The US4120 million investment into Sharp will be used for the development of MEMS display and necessary capital investments.