Qualcomm to invest $120 mln in Japan's Sharp

TOKYO Tue Dec 4, 2012 3:26am EST

TOKYO Dec 4 (Reuters) - Qualcomm Inc will invest $120 million in Sharp Corp, making the U.S. company one of the biggest shareholders in the struggling TV maker, and will partner it in developing new displays, the Japanese firm said Tuesday.

Qualcomm will make an initial investment of 4.93 billion yen ($59.91 million) by the end of the year, with the timing and amount of the remainder of the 9.9 billion yen ($120 million)investment yet to be decided, Sharp said in a release.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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