Chip maker joins Samsung by taking on three per cent ownership of Sharp

Qualcomm invests further $60m in Sharp

Qualcomm has competed its previously announced $120 million investment in display maker Sharp.

The firm announced in December last year that it would invest the sum into the struggling display manufacturer in return for a 3.5 per cent stake of ownership.

Whilst initially invested $60 million when the deal was first agreed, today’s investment will see the total investment completed.

Qualcomm’s terms of the deal required Sharp to meet a number of conditions and criteria for the remainder of the investment to be paid, including the production of power-saving displays, which Sharp has since achieved.

Despite the investment, Qualcomm isn’t the only big player taking an interest in Sharp, as Samsung announced back in March that it would be investing $111.3 million into the firm in return for a three per cent stake of its own.

The firms are believed to be buoying the struggling screen maker as a result of both parties’ interest in the LCD display business.

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