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Sony Sells LCD Panel Business For $939 Million

By TechTaffy Desk

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.

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