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

TOKYO Mon Dec 3, 2012 6:57pm EST

A logo of Sharp Corp is pictured at CEATEC JAPAN 2012 electronics show in Chiba, east of Tokyo, October 2, 2012. REUTERS/Yuriko Nakao

A logo of Sharp Corp is pictured at CEATEC JAPAN 2012 electronics show in Chiba, east of Tokyo, October 2, 2012.

Credit: Reuters/Yuriko Nakao

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TOKYO (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. ($1 = 82.2850 Japanese yen)

(Reporting by Reiji Murai; Writing by Mayumi Negishi; Editing by Edwina Gibbs)

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