TOKYO/SEOUL: Sony Corp has agreed to end its LCD joint venture with Samsung Electronics and will sell its stake to the South Korean company, a source familiar with the matter said on Monday.
The decision comes after Sony in November warned of a fourth straight year of losses, with its television unit alone set to lose $2.2 billion on tumbling demand and a surging yen.
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The Japanese TV maker at that time said it would revamp LCD panel procurement, but declined to comment on reports that it would end the panel joint venture with Samsung.
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A Samsung spokesman said on Monday the two companies would make an announcement regarding the joint venture at O630 GMT, without elaborating.
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Sony holds a nearly 50 percent stake in liquid-crystal display (LCD) joint venture S-LCD, which was established in April 2004 to secure stable supplies of the component.
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Shares in Sony were up 1.75 percent and Samsung Electronics shares traded flat as of 0535 GMT.
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Global TV manufacturers are restructuring their businesses and outsourcing production as cutthroat competition and weak demand squeeze margins.
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Samsung is the world's No. 1 TV maker, while Sony vies for the No.2 title with South Korea's LG Electronics Inc.
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