Japan’s Sharp Says Qualcomm Investment Delayed

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.

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