Arab Today, arab today sharp announces delay to 60m qualcomm investment
Last Updated : GMT 13:52:24
Arab Today, arab today
Arab Today, arab today

New deal gives US firm 2.64% stake in company

Sharp announces delay to $60m Qualcomm investment

Arab Today, arab today

Arab Today, arab today Sharp announces delay to $60m Qualcomm investment

Sharp is undergoing a major restructuring including job cuts
Tokyo - Arabstoday

Sharp is undergoing a major restructuring including job cuts Cash-strapped Japanese electronics giant Sharp said that a badly needed capital injection from US chipmaker Qualcomm had been delayed as the two sides hammer out details of the pact, AFP has reported. Sharp in December announced it had struck a $120m deal with Qualcomm as it moves to repair its tattered balance sheet with the agreement calling for joint development of liquid crystal display (LCD) panels for smartphones.
The US firm has paid about half of the investment, giving it a 2.64 percent stake in Sharp, with the second payment which should be around $60m scheduled for March 29.
"But it has become impossible to get the payment on March 29...with negotiations continuing on the terms of the second new share issuance," Sharp said in a statement, without elaborating.
Qualcomm's initial investment saw it buy Sharp shares at 164 yen each, about half of the 308 yen they were trading at in Tokyo on Monday after falling 2.22 percent in the morning.
A Sharp spokeswoman said the delay was not related to the share price of Sharp -- which has apparently shelved a bigger capital deal with Taiwan's Hon Hai Precision -- but rather questions over mass production of the energy-efficient displays.
She added that the delay would not impact Sharp's earnings, and said the two sides had earlier agreed the second payment could be delayed by three months.
Earlier this month, the Osaka-based maker of Aquos brand electronics announced a 10.4bn-yen capital tie-up deal with South Korean rival Samsung, making it Sharp's biggest foreign investor.
Sharp, which expects to close its fiscal year to March with a net loss of 450bn yen, is undergoing a major restructuring that includes thousands of job cuts and overhauling its business, like rivals Sony and Panasonic.
Japan's electronics giants have suffered myriad problems including a strong yen, weak demand in key export markets, fierce competition especially in their struggling TV divisions and strategic mistakes that ruined their finances.
 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sharp announces delay to 60m qualcomm investment Arab Today, arab today sharp announces delay to 60m qualcomm investment

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sharp announces delay to 60m qualcomm investment Arab Today, arab today sharp announces delay to 60m qualcomm investment

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Ryanair's O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

Ryanair's O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday