Qualcomm, Sharp In Joint Development Deal

San Diego-based Qualcomm has inked a deal with Japanese display maker Sharp, to invest approximately $61M (5 billion yen) in Sharp, as part of a joint development deal. The deal, first reported by Japanese newspaper Nikkei, said that the two will work together to develop an energy-efficient, LCD panel for smartphones. Sharp has been looking around for strategic partners in the last month, as it has run into series business troubles. Reports says the move gives Qualcomm 5 percent of Sharp.