Japanese firm will not exit LCD joint venture with Samsung.
Sony Corp. has moved to squash rumors that it will exit an LCD joint venture with South Korea's Samsung Electronics. The rumors surfaced as Sony is heading for an eight straight year of losses in its televisions division.
Chosun Ilbo, a South Korean newspaper, first reported the rumor. It said that Samsung was in talks with Sony on how the joint venture, S-LCD, would be broken up. It quoted an unidentified industry source close to the situation in its report.
In April this year, both companies were reported to have cut capital in S-LCD by over $500 million, as Sony looked to cut its TV losses and Samsung put more focus into next generation display technology.
Chosun Ilbo, a South Korean newspaper, first reported the rumor. It said that Samsung was in talks with Sony on how the joint venture, S-LCD, would be broken up. It quoted an unidentified industry source close to the situation in its report.
In April this year, both companies were reported to have cut capital in S-LCD by over $500 million, as Sony looked to cut its TV losses and Samsung put more focus into next generation display technology.
