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Sharp in Capital Alliance with Qualcomm; Announces Display Technology Development Agreement

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Sharp Corporation (OTC: SHCAY) (hereafter "Sharp") today announced that the Company has reached an agreement with Pixtronix Inc. (hereafter Pixtronix), a subsidiary of Qualcomm (NASDAQ: QCOM), concerning the development of Pixtronix's MEMS(1) displays. In addition, Sharp signed the capital alliance agreement and will issue new shares by a third party allotment (hereafter "This Third Party Allotment") with Qualcomm Incorporated, a world leader in 3G, 4G and next-generation wireless technologies, as the allottee.MEMS display to be developed jointly by the two companies is a display using ultrafine process technology and existing display manufacturing infrastructure with features including high color reproducibility and low-power consumption. The development for commercialization of MEMS display will be achieved by integrating Sharp's core display technology, IGZO(2) and MEMS display technology of Pixtronix.In addition, Sharp is planning to accept up to 9.9 billion yen(3) from Qualcomm in equity investment to pursue this joint development. This capital will be used for the development of MEMS display and necessary capital investments related

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Posted-In: News Guidance Financing Contracts Management Global

 

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