Sony relinquishes $939 million stake in Samsung LCD joint-venture

Samsung and Sony entered a joint venture for the future development and production of LCD screens in 2004 called S-LCD. Since then, the LCD market has exploded, but Sony is ready to let Samsung have full control of the two companies’ particular effort.

This news follows a recent $1.2 billion annual loss by Sony that was attributed to reduced demand in its television division. Samsung will buy-out Sony’s 50 percent share of the venture for 1.08 trillion won ($939 million). Sony says the two companies will continue to collaborate on LCD technology in the future.

The full transfer of S-LCD to Samsung is set to be complete by the end of January 2012.

Source: Sony

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