Samsung buys out Sony S-LCD share for 940 Million US Dollar

Sony will sell its shares in the LCD panel joint-venture S-LCD to partner Samsung, the two companies have announced, in a deal worth 940M USD, as the Japanese firm struggles to coax profit out of its TV line. S-LCD Corporation had been established in 2004 by Sony and Samsung, with this new deal that will leave S-LCD a wholly owned Samsung subsidiary expected to close by the end of January 2012. Sony will continue to source displays for some of its TVs from S-LCD.

"This transaction will enable Sony to monetize its shares in S-LCD and aims to secure a flexible and steady supply of LCD panels from Samsung, based on market prices and without the responsibility and costs of operating a manufacturing facility" the Japanese company says.