Samsung to buy Sony's half of LCD-making joint venture
Samsung Electronics Co. is buying Sony Corp.'s half of an LCD-display-making joint venture between the two companies for about $935 million.
The move will make S-LCD Corp., founded in 2004, a wholly owned subsidy of Samsung and help Sony withdraw from a venture that has given it eight years of losses.
After the deal's expected closed in January, Sony will take an $846-million loss, the Japanese tech giant said in a statement.
But the exit from the LCD-manufacturing business won't mean that Sony is leaving the TV or computer-display business altogether.
S-LCD will provide LCD panels for Sony products via a "long-term supply agreement of LCD panels, as agreed by the two companies," Samsung said in a statement.
-- Nathan Olivarez-Giles
Photo: A Sony television with a remote control. Credit: Sony Corp.