Qualcomm (QCOM) Expands MEMS Display Agreement with Sharp

Qualcomm, Inc. (NASDAQ: QCOM) announced the expansion of its display technology agreement between its subsidiary Pixtronix, Inc. and Sharp Corporation to develop and commercialize high-quality color, low-power MEMS displays incorporating IGZO (Indium Gallium Zinc Oxide) technology and built utilizing existing LCD manufacturing infrastructure, and Qualcomm's equity investment in Sharp Corporation. As a result of the equity investment, Qualcomm will become a minority shareholder in Sharp.

Qualcomm's equity investment in Sharp and the expanded joint development agreement build upon the existing work between Sharp and Pixtronix as the two companies have been engaged in development activities for the last year and a half. The goal of this joint effort is to accelerate commercialization of Pixtronix's low power MEMS displays utilizing Sharp's IGZO technology.

The equity investment by Qualcomm will take place in stages and the consummation of the transaction is subject to certain contingencies.

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