Posted on Monday, December 26 2011 @ 22:35 CET by Thomas De Maesschalck
DailyTech
reports Sony has exited its S-LCD joint-venture with Samsung by selling all of its S-LCD shares to the Korean electronics giant for 1.08 trillion won (US$939 million).
After some talk early last month about shaking up its LCD business unit, Sony has finally reached and signed agreements with Samsung in an effort to save its failing LCD TV branch.
Sony has been in the LCD TV business for eight years, and has had eight years of losses in a row. After realizing that this sinking ship was not producing (and likely will not produce) any annual profits, Sony began negotiating with Samsung on a buyout of its 50 percent manufacturing stake in their LCD joint venture, S-LCD Corporation, which was established in April 2004.
Now, Sony and Samsung have announced that they've signed agreements to change up their current S-LCD business relationship.
