Sharp says won't get 2nd part of Qualcomm investment by March 29
TOKYO, March 18
TOKYO, March 18 (Reuters) - Sharp Corp said on Monday it would not be getting a second payment in a planned investment from U.S. Qualcomm Inc by March 29, though it is still in talks with the chipmaker over the investment.
Sharp said in December that Qualcomm will invest as much as $120 million in it, helping the Japanese firm's efforts to remain viable.
An initial investment was made but the remaining investment was conditional on Sharp returning to profit in the second half of the business year ending on March 31.
Sharp said in statement on Monday that it was still discussing terms of the investment with Qualcomm.
The two companies said in December that Qualcomm, through its Pixtronix subsidiary, will work with Sharp to develop new power-saving screens based on Sharp's IGZO technology.
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