HispanicBusiness

Sharp Corp and Qualcomm Inc agreed on a capital and business tie-up with the US chipmaker investing up to 10 billion yen (121.7 million dollars) in the financially strapped Japanese electronics firm, news reports said Tuesday.

The two companies also agreed to develop jointly an energy-efficient liquid crystal display panel for smartphones using the Japanese firm's technology, the Nikkei business daily reported without citing any sources.

In November, Sharp revised its outlook for net loss for the year to March 2013 to 450 billion yen, from the 250 billion yen it had predicted in August, due to slumping television sales.

By teaming up with Qualcomm and racing ahead in the development of next-generation panels, Sharp aims to further bolster its liquid crystal display panel business, the report said.