Sony Sells Its Share in LCD Joint Venture with Samsung

After seven years of working together on an LCD venture, Sony and Samsung have decided to call it quits. Samsung will buy up Sony’s 50 percent share of S-LCD Corporation, which is said to cost around $939 million.

Analysts say that Sony left the venture because it has been struggling with the increasingly competitive TV industry. Instead, Sony has agreed to a new strategic agreement to source Samsung’s LCD TVs in the future, as well as to continue “cooperative engineering efforts focused on LCD panel technology.” We think this has to do with Sony’s “new televisions platform” it has been developing.

The share transfer and payment are expected to close by the end of January 2012, as long as regulatory authorities have approved it.

Source: Sony, via Engadget

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