Samsung buys out Sony from S-LCD joint venture

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As widely predicted, Sony is selling off its entire stake in S-LCD Corporation to rival Samsung

Sony Samsung S-LCD

Samsung has agreed to buy out Sony's entire stake in their LCD joint venture, S-LCD Corporation, as part of Sony's plan to pull out of the TV manufacturing business.

The plan to end the seven-year joint venture first came to light in October, as Sony desperately tried to turn around its loss-making TV division.

The Korean electronics maker says it will pay Sony 1.08tn won ($939m; £600m) in cash for its stake.

Samsung, meanwhile, has gone on to become the world's largest maker of TVs and flat screen 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," Samsung Electronics said in a statement today.

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Andy Clough
Andy Clough

Andy is Global Brand Director of What Hi-Fi? and has been a technology journalist for 30 years. During that time he has covered everything from VHS and Betamax, MiniDisc and DCC to CDi, Laserdisc and 3D TV, and any number of other formats that have come and gone. He loves nothing better than a good old format war. Andy edited several hi-fi and home cinema magazines before relaunching whathifi.com in 2008 and helping turn it into the global success it is today. When not listening to music or watching TV, he spends far too much of his time reading about cars he can't afford to buy.