Logo of Sharp Corp is pictured at CEATEC JAPAN 2012 electronics show in Chiba
© Yuriko Nakao / Reuters  /  REUTERS
A logo of Sharp Corp is pictured at CEATEC JAPAN 2012 electronics show in Chiba, east of Tokyo, October 2, 2012. REUTERS/Yuriko Nakao
updated 12/3/2012 7:21:50 PM ET 2012-12-04T00:21:50

TOKYO (Reuters) - Shares of Japan's Sharp Corp <6753.T> rose 2.9 percent to 177 yen on Tuesday, outpacing the broader market, after sources familiar with the matter said it and U.S. Qualcomm Inc would jointly develop next-generation displays.

The sources said the two companies are in talks for Qualcomm to invest as much as 10 billion yen ($121.5 million) in the Japanese struggling TV maker.

Sharp declined to comment. ($1 = 82.2850 Japanese yen)

(Reporting by Dominic Lau; Editing by John Mair)

(c) Copyright Thomson Reuters 2012. Check for restrictions at: http://about.reuters.com/fulllegal.asp

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