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Name | Symbol | Market | Type |
---|---|---|---|
Sharp Corporation (PK) | USOTC:SHCAY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.015 | -1.05% | 1.415 | 1.36 | 1.46 | 1.415 | 1.415 | 1.415 | 353 | 21:04:04 |
OSAKA (Nikkei)--Sharp Corp. (6753.TO) and Qualcomm Inc. of the U.S. have reached an agreement to jointly develop an energy-efficient LCD panel for smartphones using the Japanese firm's proprietary technology, The Nikkei reported in its Tuesday morning edition.
Under the deal, Sharp will provide the major U.S. chipmaker its IGZO (indium-gallium-zinc oxide) technology, which greatly reduces a panel's power use. The full details are expected to be announced as early as Tuesday.
In exchange for the technology, Sharp will receive by the end of this year a Y5 billion investment from the U.S. firm through a private placement of new shares. Qualcomm will pour an additional Y5 billion or so into Sharp once sufficient progress has been made.
Based on Sharp stock's Monday closing price, a Y10 billion investment will give Qualcomm a roughly 5% stake.
Sharp is bracing for its second consecutive annual net loss of more than Y300 billion for the year ending in March. With its capital ratio standing at a low 9.9% as of the end of September, shoring up its capital is a high priority.
The company announced in March that it had agreed to receive an investment from Taiwan's Hon Hai Precision Industry Co., but their negotiations have since bogged down as Sharp's stock nosedived.
By teaming up with Qualcomm and racing ahead in the development of next-generation panels, Sharp aims to further bolster its LCD panel business. It ranked second globally for small- and midsize LCD panels used in smartphones and tablet devices, with a market share of roughly 16%.
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