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Sharp shares rise after report of Qualcomm tie-up
December 4, 2012 / 12:25 AM / 5 years ago

Sharp shares rise after report of Qualcomm tie-up

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

TOKYO (Reuters) - Shares of Japan’s Sharp Corp (6753.T) rose 2.9 percent to 177 yen on Tuesday, outpacing the broader market, after sources familiar with the matter said it and U.S. Qualcomm Inc (QCOM.O) would jointly develop next-generation displays.

The sources said the two companies are in talks for Qualcomm to invest as much as 10 billion yen ($121.5 million) in the Japanese struggling TV maker.

Sharp declined to comment. ($1 = 82.2850 Japanese yen)

Reporting by Dominic Lau; Editing by John Mair

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