TOKYO/SEOUL (Reuters) - Sony Corp has concluded to sell a scarcely 50 percent interest in an LCD joint venture with Samsung Electronics to Samsung for $940 million, a Korean organisation pronounced on Monday, as Sony struggles to fixed red ink during a TV business.
The try cut a collateral by 15 percent in Jul and attention sources had pronounced Sony was negotiating an exit, aiming to switch to cheaper outsourcing for prosaic screens for a TVs while Samsung pushes forward with next-generation displays.
Sony warned in Nov of a fourth true year of waste for a financial year to subsequent March, with a TV section alone set to remove $2.2 billion on acrobatics direct and a surging yen.
The builder of Bravia TVs and PlayStation persion consoles pronounced during a time it would revamp a LCD row buying though did not criticism on a opinion for a LCD try with Samsung.
"In terms of instruction it is positive," pronounced Keita Wakabayashi, an researcher during Mito Securities in Tokyo. "But if they are creation a detriment on a sale, one could ask because they didn't make this preference sooner."
Some analysts contend a $100 billion LCD TV marketplace appearance final year and foresee it will cringe 3 to 4 percent annually, as consumers in modernized countries have already traded in their massive cathode-ray tube TV sets for prosaic screens, while a LCD marketplace has been in a bolt given final summer.
Sony pronounced in Apr it would not lift a interest in a apart LCD try with Sharp Corp for during slightest a year, and in Oct signaled a stepped-up pull into a intelligent phone marketplace by announcing it would take control of a mobile phone corner try with Ericsson for $1.5 billion.
The association is anticipating to feat a song and video applications to assistance it locate adult with smartphone leaders such as Apple Inc.
Sony pronounced on Monday it would news a 66 billion yen ($856 million) spoil detriment for a October-December entertain though approaching to cut 50 billion yen in annual costs in a LCD business by finale a try with Samsung.
Sony binds a scarcely 50 percent interest in a venture, S-LCD, that was determined in Apr 2004 to secure fast reserve for Sony's flat-screen TVs.
Shares in Sony finished 1.6 percent higher, compared with a 1 percent benefit in Tokyo's benchmark Nikkei average, while Samsung Electronics shares fell 0.2 percent.
Global TV manufacturers are restructuring their businesses and outsourcing prolongation as cutthroat foe and diseased direct fist margins.
Analysts have criticized Sony for unwell to aggressively accommodate unbending foe in a TV marketplace from South Korean rivals Samsung, a world's No.1 TV maker, and LG Electronics Inc.
($1 = 1,155 won; 77.99 yen)
(Additional stating by Isabel Reynolds; Editing by Michael Watson)
News referensi http://news.yahoo.com/sony-agrees-end-lcd-venture-samsung-source-052036533.html
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