Intel, Qualcomm reportedly considering investment in Sharp

Sharp TV
A new path may be in the cards for Sharp

Two chip making rivals are reportedly considering a joint investment worth $378 million (UK£238, AUD$363) into struggling consumer electronics company Sharp, according to a new report.

Citing two sources familiar with the situation, Reuters revealed the potential revival deal between Intel and Qualcomm Wednesday.

Sharp displays are found in iPads and iPhones and the company appears anxious to tap into the small screen and high-end laptop market as a way to resurrect its fortunes. Intel is apparently interested in Sharp's energy-efficient IGZO displays as it looks to profit in the growing Ultrabook scene.

A deal between Sharp and Qualcomm may come as soon as the end of November, one of Reuters' sources said. Details of an Intel deal are less firm as the company has its own murky financials to contend with.

Sharp's struggles

Sharp's situation is no secret - various reports have it cutting its workforce by almost 11,000 in two years, selling off assets and contending with $13.8 billion (UK£8.71, AUD$13.2) in debt.

Over the course of 2012, Sharp has seen three-quarters of its value whither away. Its total lose for the year could reach $5.7 billion (UK£3.59, AUD$5.4), including a $1.1 billion (UK£6.94m, AUD$1.05) restructuring charge.

The firm also reportedly struggled to meet screen supply demands for the popular iPhone 5, though it later denied those claims.

An investment by Intel or Qualcomm, or both, could lay out an entirely new future for Sharp, one that steers it completely away from TV land and wholly towards mobile technology.

Via Reuters

Michelle Fitzsimmons

Michelle was previously a news editor at TechRadar, leading consumer tech news and reviews. Michelle is now a Content Strategist at Facebook.  A versatile, highly effective content writer and skilled editor with a keen eye for detail, Michelle is a collaborative problem solver and covered everything from smartwatches and microprocessors to VR and self-driving cars.