Sharp, Qualcomm to co-develop next-generation displays-sources

TOKYO Mon Dec 3, 2012 6:55pm EST

TOKYO Dec 4 (Reuters) - Japanese struggling display panel maker Sharp Corp and U.S. chipmaker Qualcomm Inc have agreed to jointly develop next-generation displays, two sources familiar with matter said on Monday.

The two are in talks for Qualcomm to invest as much as 10 billion yen ($121.5 million) in debt-laden Sharp, the sources said.

Sharp declined to comment.

The Nikkei business daily earlier reported that Sharp would receive by the end of this year 5 billion yen from Qualcomm through a private placement of new shares, followed by an additional 5 billion yen at a later date.