Featured Articles

Apple announces its Apple Watch

Apple announces its Apple Watch

Apple has finally unveiled its eagerly awaited smartwatch and surprisingly it has dropped the "i" from the brand, calling it simply…

More...
Skylake 14nm announced

Skylake 14nm announced

Kirk B. Skaugen, Senior Vice President General Manager, PC Client Group has showcased Skylake, Intel’s second generation 14nm architecture.

More...
Apple officially announces 4.7-inch iPhone 6 and 5.5-inch iPhone 6 Plus

Apple officially announces 4.7-inch iPhone 6 and 5.5-inch iPhone 6 Plus

The day has finally come and it appears that most rumors were actually spot on as Apple has now officially unveiled…

More...
CEO: Intel on target for 40m tablets

CEO: Intel on target for 40m tablets

Intel CEO Brian Krzanich just kicked off the IDF 2014 keynote and it started with a phone avatar, some Katy Perry…

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Monday, 18 March 2013 10:40

Sharp future blunted by missed deadline

Written by Nick Farrell



Hopes of Qualcomm cash dashed

Sharp’s hopes that it could pull its nadgers out of the fire have been dashed when it realised that it will miss a March 29 deadline to begin fabricating power-saving screens it is developing with Qualcomm.

The company was to receive the second half of a $120 million investment from Qualcomm if it completed the plan. Qualcomm, already paid half the $120 million in December, set conditions for the remainder that included having completed the specifications for the smartphone and tablet PC screens and preparations for their production. Qualcomm insisted that Sharp would have to make an operating profit in the second half of its business year and have at least $1.05 billion of net assets. Sharp said that the financial targets were not the reason for the delay.

Sharp and Qualcomm will now fall back to a June 30 deadline for the Japanese company to meet conditions for the second payment, the spokesman said. The two companies said in December that Qualcomm, through its Pixtronix subsidiary, would work with Sharp to develop new power-saving screens based on Sharp's IGZO technology. Missing the second deadline would add pressure on cash-strapped Sharp as it looks for money to repay a $2.1 billion convertible bond in September.

Sharp wanted Hon Hai to buy a 9.9 percent stak but that didn’t happen either. Samsung agreed to invest $110 million in Sharp, which supplies screens for Apple Inc's iPhone5 and iPad, in return for a 3 percent stake and a promise from Sharp to bolster panel supplies to the Korean outfit.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments