Samsung snaps up Sony's share of joint S-LCD business for $940m
Samsung's screen technology business is about to get even bigger.
Samsung is now buying up Sony's share of the two companies' joint venture, S-LCD, for $940 million, or approximately 1.08 trillion South Korean won. The acquisition will shift Sony's 50 percent of the company--minus one share--into Samsung's possession, making it the S-LCD Corporation a wholly-owned Samsung subsidiary.
The shift is intended to ease some of Sony's continuing struggle with its TV business, which has posted a loss over eight straight years.
In addition to Samsung assuming control of the company, which manufactures LCD panels … Read more