TOKYO (Reuters) - Qualcomm Inc will invest $120 million in Sharp Corp, making the U.S. company one of the biggest shareholders in the struggling TV maker, and will partner it in developing new displays, the Japanese firm said Tuesday.
Qualcomm will make an initial investment of 4.93 billion yen ($59.91 million) by the end of the year, with the timing and amount of the remainder of the 9.9 billion yen ($120 million)investment yet to be decided, Sharp said in a release. ($1 = 82.2850 Japanese yen)
(Reporting by Tim Kelly; Editing by Michael Watson)
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