Sharp says Qualcomm investment delayed
Global Post -- Mar 18
Cash-strapped Japanese electronics giant Sharp said Monday that a badly needed capital injection from US chipmaker Qualcomm had been delayed as the two sides hammer out details of the pact.
Sharp in December announced it had struck a $120 million deal with Qualcomm as it moves to repair its tattered balance sheet with the agreement calling for joint development of liquid crystal display (LCD) screens for smartphones.
The US firm has paid about half of the investment, giving it a 2.64 percent stake in Sharp, with the second payment which should be around $60 million scheduled for March 29.
"But it has become impossible to get the payment on March 29... with negotiations continuing on the terms of the second new share issuance," Sharp said in a statement, without elaborating.
経営再建中のシャープは、資本提携しているアメリカの半導体大手「クアルコム」から予定していた2回目の出資が延期になったと発表しました。
News sources: Global Post, ANNnewsCH
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