Sony to sell nealy half of shares in LCD joint venture to Samsung for $940m
Sony has agreed to sell nearly half of its stake in its LCD joint venture with Samsung Electronics for $940m.
The company will sell nearly 50% of its stake in Korean LCD manufacturer S-LCD, established in 2004, to Samsung as it aims to offset its deep TV losses, as Sony expects to lose over a billion dollars this year.
In order to overcome the losses made within the TV market, Sony has said that it will focus on a ‘four-screen strategy’ that will offer content between smartphones, laptops, tablets and televisions.