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|27th December 2011, 16:12||#1|
Join Date: May 2010
Sony and Samsung Shift to New LCD Panel Business Alliance
Sony Corporation ("Sony") and Samsung Electronics Co., Ltd. ("Samsung") today announced that the two companies have signed agreements to transition the current business relationship with respect to LCD panels.
Under the agreement, Samsung will acquire all of Sony's shares of S-LCD Corporation ("S-LCD"), the two companies' LCD panel manufacturing joint venture, making S-LCD a wholly owned subsidiary of Samsung. In consideration for the share transfer, cash consideration of approximately KRW 1.08 trillion* will be paid to Sony by Samsung. Concurrently, the two companies have entered into a new strategic agreement for the supply and purchase of LCD panels with a goal of enhancing the competitiveness of both companies. The agreement also allows Sony and Samsung to continue cooperative engineering efforts focused on LCD panel technology.
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