Techtaffy Newsdesk

Sony and Samsung 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, 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 (roughly $939 million) 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. The agreement also allows Sony and Samsung to continue cooperative engineering efforts focused on LCD panel technology.