Serious financial losses forced the company Sony sell your share in a joint venture S-LCD. From now on, the sole owner becomes Samsung. The deal was reportedly worth nearly US$1 billion.
The deal will be fully completed in January next year. The South Korean giant plans to merge S-LCD with its production of LCD screens, which is already one of the largest in the world.
It was also stated that the companies do not intend to break partnerships. In particular, Sony will continue to purchase products S-LCD for their own needs, in the production of all kinds of electronics.
This fiscal year, like the previous seven, is expected to bring Sony one loss. And the TV division plays a big role in generating those losses. Resignation of his share (50%, minus one share) in favor of Samsung - one of the steps in the restructuring of this unit.