Sony to dissolve LCD panel deal with Sharp

May 25, 2012

Talat Zaki Hafiz



TOKYO — Troubled electronics giants Sony and Sharp said Thursday they would dissolve their liquid crystal display joint venture, as the sector in Japan struggles with a strong yen and cheaper foreign rivals. The expected move comes two months after Sharp announced an $808 million link-up with Taiwan’s Hon Hai Precision. Thursday’s agreement will see Sony sell its entire stake of 7.04 percent in the venture — Sharp Display Products — for 10 billion yen ($126 million), the same amount it spent at the time of the tie-up. The payment is due by the end of June. Sharp currently holds the remaining 92.96 percent in the joint venture, which operates the Sakai LCD factory in western Japan. — AFP


May 25, 2012
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