Sony Sells LCD Venture Stake to Samsung

Published: Tuesday, December 27, 2011 at 9:16 p.m.

Last Modified: Tuesday, December 27, 2011 at 9:16 p.m.

Sony sold its stake in the venture with Samsung Electronics to make liquid-crystal displays to the South Korean company after predicting an eighth consecutive year of losses from TVs amid sluggish demand. Samsung will pay $935 million in cash for Sony's stake in S-LCD Corp., a venture formed in 2004, the Suwon, South Korea-based company said in a statement Monday. Sony, which invested $1.44 billion in the venture, will take a charge of about $846 million in the quarter ending Dec. 31 after the deal, Japan's biggest consumer-electronics exporter said in its statement.

Sony Sells LCD Venture Stake to SamsungTheLedger.comDecember 27, 2011 9:16 PM

<p>Sony sold its stake in the venture with Samsung Electronics to make liquid-crystal displays to the South Korean company after predicting an eighth consecutive year of losses from TVs amid sluggish demand. Samsung will pay $935 million in cash for Sony's stake in S-LCD Corp., a venture formed in 2004, the Suwon, South Korea-based company said in a statement Monday. Sony, which invested $1.44 billion in the venture, will take a charge of about $846 million in the quarter ending Dec. 31 after the deal, Japan's biggest consumer-electronics exporter said in its statement.</p><!-- Nothing to do. The paragraph has already been output -->

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Source: http://www.theledger.com/article/20111227/news/111229416

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