Qualcomm finalizes investment on Sharp

By IVCPOST Staff Reporter

Jun 24, 2013 09:44 AM EDT

Qualcomm, a company that produces and designs high-quality chipsets and system software, now holds the title of third largest shareholder of mega company Sharp. This came as Qualcomm invested a total of $120 million in the electronics firm.

The final installment of the investment was finished today, amounting to $60 million. In line with this, Qualcomm's subsidiary unit Pixtronix gained a total stake of 3.53 percent plus an additional 11,868,000 shares in Sharp. The price of each share is 502 yen on the initial issue.

Sharp has been failing to perform in the past quarters. This deal with the United States chipmaker company enables Sharp to develop, together with Qualcomm, the new generation of Micro Electro Mechanical System or MEMS display technology.

The terms of investment included Sharp's production of different screens with different dimensions appended with MEMS technology with its Indium Gallium Zinc Oxide or IGZO technology. This new technological endeavor is expected to result in an improved consumption rate of power.

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