Samsung, Sony bought his shares in the manufacture of LCDs
Sony has sold, Monday, Dec. 26, its share of joint venture with Samsung to build LCD displays, announced the Korean giant. Samsung will pay $ 935 million to become sole owner of S-LCD, about two-thirds of what Sony had originally invested in the joint venture, formed in 2004.
The two manufacturers are faced with poor sales of television screens. The division of Samsung television in 2011 has been its eighth consecutive year of losses. Korean giant gets most of its profits from the construction of mobile phones, a sector that generates insufficient revenue for Sony, a deficit in four years.
The two companies have yet signed a supplementary agreement on future orders of screens by Sony in its former subsidiary agreement that will allow Sony to continue to purchase at market price without incurring the fixed costs of S-LCD .
Sony deficit in four years, saw its score worsened by the firm Fitch to BBB-in December. Handicapped by a strong yen, the company has not achieved its sales targets and provides for new losses by March. The Japanese giant had already sold several plants of television in 2011.
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