Samsung Buys Sony’s Stake In S-LCD For $940 Million

Sony is selling their shares in LCD panel joint-venture company S-LCD to Samsung electronics for $940 million. Sony is struggling to make profits from their TV line. S-LCD is a joint venture between Sony and Samsung. Now Samsung will now fully own the subsidiary. This deal is expected to close in January 2012.

“This transaction will enable [Sony] to monetize its shares in S-LCD and aims to secure a flexible and steady supply of LCD panels from Samsung, based on market prices and without the responsibility and costs of operating a manufacturing facility” stated Sony. This past November Sony warned of $1.15 billion in losses.

[SlashGear]

Related posts:

1. About 290.5 Million Smartphones Were Sold During The Last Quarter, Nokia and Samsung Lead The Way
2. Samsung Reports A $3.6 Billion Q1 Profit
3. Samsung Sells Over 300 Million Mobile Devices In 2011
4. Apple Paid Samsung $5.7 Billion For Parts Last Year And Is Now Suing Them
5. Samsung Shipped 27.8 Million and Apple Shipped 17.1 Million Smartphones This Past Quarter