Digital telecommunications company Qualcomm has invested £74 million in Japanese firm Sharp to develop low-power displays for mobile devices.

The first half of the total investment will be transferred at the end of this year, with the remaining investment being delivered based on the success of joint development.

The new display technology would fit in a gap between e-paper screens and LCD in terms of quality and power usage. The invest comes when Sharp is projecting losses of $5.6 billion for 2012