Sharp announced on 18 March that the company will fail to meet the deadline on 29 March for Qualcomm's second investment of US$60.1 million, according to a press release by Sharp. In December 2012, Sharp reached a deal with Qualcomm to receive a total amount of US$120 million for joint development of MEMS (Microelectromechanical Systems) displays for Smartphones and tablets. The first payment of US$59.9 million was received on 27 December 2012, while the second allotment is subject to the condition that Sharp must complete the specifications and preparations for the mass production of MEMS displays. As Sharp needs more time to finish its job, the deadline is reportedly postponed to 30 June.

In related news, Sharp's negotiation with Foxconn to sell a 9.9% stake has stalled for months. With the March 26 deadline approaching, the chances that the investment will realize are slim. Meanwhile, Samsung agreed to purchase about 3% stake in Sharp for around $110 million earlier this month.