Samsung Is Buying Sony's LCD Television Business

Samsung will buy Sony's stake in a joint-venture LCD television business for $939 million, ending the company's partial ownership of the business, The Verge reports.

Sony will still retain a partnership with Samsung to purchase LCD panels, but it'll be at market price and the company won't be responsible for manufacturing them any more, according to the report. Here's are the details from The Verge:

The split comes?after rumors of the dissolution?were first reported in October and follows?Sony's November announcement of a?$1.2 billion annual loss?due to weak demand from its loss-leading television division coupled with a strong yen. Samsung will acquire all of Sony's 50 percent share for 1.08 trillion won (about $938.97 million) and convert the joint venture into a wholly-owned subsidiary.

Source: http://www.businessinsider.com/samsung-is-buying-sonys-lcd-television-business-2011-12

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