Sharp sets new deadline of June 30 for Qualcomm investment

TOKYO, March 18 Sun Mar 17, 2013 8:50pm EDT

TOKYO, March 18 (Reuters) - Sharp Corp and Qualcomm Inc have set a new June 30 deadline for the U.S. chipmaker to pay the second half of an agreed $120 million investment after Sharp failed to meet conditions for the cash injection to be made by the end of March.

Sharp expects to have met conditions for the payment by the new deadline, Sharp spokeswoman Miyuki Nakayama said.