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Sharp does not want Intel cash

by on08 January 2013

No one can be that desperate

While Sharp is desperately looking for more cash, it appears that it will try busking outside CES with a dog on a string before it takes money from Intel.

A senior senior executive from the Japanese company told the Mercury News denied that the company was looking for money from Chipzilla. Industry analysts had speculated that Intel and Sharp, which supplies screens to Apple (AAPL) for its latest iPhonem, were in investment discussions.

Sharp is fighting for survival after years of losses. In November, it said it may not be able to survive on its own after full-year net losses to doubled to $5.6 billion. Sharp Vice President Kozo Takahashi told reporters at a roundtable briefing on the sidelines of the Consumer Electronics Show in Las Vegas that the company’s finances have been weakened considerably and we are considering ways to deal with that.

But that does not mean looking at Intel. Some of this might be to do with the outfit’s closeness to Qualcomm. Late last year Qualcomm agreed to invest as much as $120 million in Sharp. As part of that agreement, Qualcomm will work with Sharp to develop new, power-saving screens based on Sharp's IGZO technology.

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