Samsung to buy Sony’s share of S-LCD joint venture for $940 million

By on December 26, 2011 at 9:01 AM.

Samsung to buy Sony’s share of S-LCD joint venture for $940 million

Samsung will purchase Sony’s 50% share of S-LCD, a joint venture created by both companies in 2004, for $939.6 million. Both companies will continue to cooperate on the development of new LCD panel technology, however, and Sony says it hopes to “secure a flexible and steady supply” of LCD panels from Samsung moving forward. “With whole ownership of S-LCD, Samsung anticipates heightened flexibility, speed and efficiency in both panel production and business operations,” Samsung said in the statement. Samsung expects the purchase to be finalized by the end of January 2012 pending approval from regulatory authorities. The full press release follows after the break. More →

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Sony scrambles to reverse losses, will split television business into three parts

By on November 1, 2011 at 1:00 AM.

Sony scrambles to reverse losses, will split television business into three parts


Sony announced on Monday that it will split its television business into three different branches in an effort to reverse a course that has the arm headed to its eighth consecutive annual loss. The three new branches include LCD TVs, next generation TVs and outsourced televisions, Reuters¬†said on Monday, and the changes will go into effect on Tuesday, November 1st. “By dividing into three divisions, we will make clearer the misson and responsibilities of these,” a Sony spokesperson said. Additionally, Sony is said to be in talks to sell its 50% stake in S-LCD to Samsung, its partner in the joint venture.¬† More →

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