money-losing sony sells stake in lcd panel joint venture for $939 millionmoney-losing sony sells stake in lcd panel joint venture for $939 millionmoney-losing sony sells stake in lcd panel joint venture for $939 million

by:LCD Mall     2020-09-01
TOKYO —
To streamline funding-
Sony said Monday it would sell a stake in its flat-screen TV business.
The panel joint venture with Samsung Electronics has abandoned more production capacity when outsourcing has become the norm in manufacturing. Sony in Tokyo
Technology and entertainment giant, which makes Bravia liquid
Crystal display television said in a statement that it would sell it in the joint venture manufacturer S-
LCD, Samsung, South Korea is 1.
8 trillion won, or $0. 939 billion.
Sony withdrew from its joint venture in South Korea\'s Don jeong in 2004, which will enable it to switch to lower-cost outsourcing options, which could revive its troubled TV business.
Sony\'s only other LCD panel maker was produced in a joint venture with Sharp, which owns a 7-cent stake in Sharp.
Fierce market competition is squeezing the profits of TV makers, especially Sony, which analysts have long criticized for being too expensive to produce.
The strengthening of the yen also put pressure on Sony\'s profits, as the value of overseas earnings was eroded when it was remitted back to its own currency.
Last month, Sony warned that it would lose money for the fourth consecutive year of the financial year.
The television sector alone has caused billions of yen losses.
Sony said it would report further impairment losses of 66 billion yen, or $0. 856 billion, for the last three months of 2011 as a result of its withdrawal from the Samsung joint venture.
But the company said in a statement that it expects the move to cut its LCD business costs by 50 billion yen a year.
\"Sony\'s goal is to ensure Samsung\'s flexible and stable supply of LCD panels based on market prices without taking responsibility and costs for operating the manufacturing plant,\" Sony said in a statement . \".
Meanwhile, Samsung Electronics, the world\'s tablet leader
Flat panel TV, will have more freedom under production-
Generate display by controlling S-LCD.
The manufacturer said in a regulatory document that its board approved the plan on Monday.
Sony\'s roots-
The Samsung alliance dates back to the 1990 s, when Samsung stood out from the Asian financial crisis as a powerful force due to continued costs
Actively explore overseas markets.
At the same time, Sony is lagging behind in several important markets, especially in computer monitors and tablets.
Flat-screen TV, one cut place-
When consumers flock to LCD and plasma displays, edge manufacturers still insist on using the old cathode ray tube technologyscreen TVs.
In the face of a complete failure in the TV market, Sony wants Samsung to reverse its flagging fate and reach a series of deals, including $2. billion state-of-the-
Art LCD joint venture in South Korea.
These companies also support Blu-ray.
Ray disc format and patent-
Sharing relationships.
For Samsung, these deals are a recognition of its global position.
The South Korean manufacturer has now taken over from Sony as the King of consumer electronics.
In the most recent full fiscal year, Samsung sold more than $14 billion in revenue of $134 billion, while Sony lost $3 billion in sales of $92 billion.
By contrast, Apple, the world\'s most profitable consumer electronics company, earns $25.
Sales were $92 billion, or 108 billion. TOKYO —
To streamline funding-
Sony said Monday it would sell a stake in its flat-screen TV business.
The panel joint venture with Samsung Electronics has abandoned more production capacity when outsourcing has become the norm in manufacturing. Sony in Tokyo
Technology and entertainment giant, which makes Bravia liquid
Crystal display television said in a statement that it would sell it in the joint venture manufacturer S-
LCD, Samsung, South Korea is 1.
8 trillion won, or $0. 939 billion.
Sony withdrew from its joint venture in South Korea\'s Don jeong in 2004, which will enable it to switch to lower-cost outsourcing options, which could revive its troubled TV business.
Sony\'s only other LCD panel maker was produced in a joint venture with Sharp, which owns a 7-cent stake in Sharp.
Fierce market competition is squeezing the profits of TV makers, especially Sony, which analysts have long criticized for being too expensive to produce.
The strengthening of the yen also put pressure on Sony\'s profits, as the value of overseas earnings was eroded when it was remitted back to its own currency.
Last month, Sony warned that it would lose money for the fourth consecutive year of the financial year.
The television sector alone has caused billions of yen losses.
Sony said it would report further impairment losses of 66 billion yen, or $0. 856 billion, for the last three months of 2011 as a result of its withdrawal from the Samsung joint venture.
But the company said in a statement that it expects the move to cut its LCD business costs by 50 billion yen a year.
\"Sony\'s goal is to ensure Samsung\'s flexible and stable supply of LCD panels based on market prices without taking responsibility and costs for operating the manufacturing plant,\" Sony said in a statement . \".
Meanwhile, Samsung Electronics, the world\'s tablet leader
Flat panel TV, will have more freedom under production-
Generate display by controlling S-LCD.
The manufacturer said in a regulatory document that its board approved the plan on Monday.
Sony\'s roots-
The Samsung alliance dates back to the 1990 s, when Samsung stood out from the Asian financial crisis as a powerful force due to continued costs
Actively explore overseas markets.
At the same time, Sony is lagging behind in several important markets, especially in computer monitors and tablets.
Flat-screen TV, one cut place-
When consumers flock to LCD and plasma displays, edge manufacturers still insist on using the old cathode ray tube technologyscreen TVs.
In the face of a complete failure in the TV market, Sony wants Samsung to reverse its flagging fate and reach a series of deals, including $2. billion state-of-the-
Art LCD joint venture in South Korea.
These companies also support Blu-ray.
Ray disc format and patent-
Sharing relationships.
For Samsung, these deals are a recognition of its global position.
The South Korean manufacturer has now taken over from Sony as the King of consumer electronics.
In the most recent full fiscal year, Samsung sold more than $14 billion in revenue of $134 billion, while Sony lost $3 billion in sales of $92 billion.
By contrast, Apple, the world\'s most profitable consumer electronics company, earns $25.
Sales were $92 billion, or 108 billion. TOKYO —
To streamline funding-
Sony said Monday it would sell a stake in its flat-screen TV business.
The panel joint venture with Samsung Electronics has abandoned more production capacity when outsourcing has become the norm in manufacturing. Sony in Tokyo
Technology and entertainment giant, which makes Bravia liquid
Crystal display television said in a statement that it would sell it in the joint venture manufacturer S-
LCD, Samsung, South Korea is 1.
8 trillion won, or $0. 939 billion.
Sony withdrew from its joint venture in South Korea\'s Don jeong in 2004, which will enable it to switch to lower-cost outsourcing options, which could revive its troubled TV business.
Sony\'s only other LCD panel maker was produced in a joint venture with Sharp, which owns a 7-cent stake in Sharp.
Fierce market competition is squeezing the profits of TV makers, especially Sony, which analysts have long criticized for being too expensive to produce.
The strengthening of the yen also put pressure on Sony\'s profits, as the value of overseas earnings was eroded when it was remitted back to its own currency.
Last month, Sony warned that it would lose money for the fourth consecutive year of the financial year.
The television sector alone has caused billions of yen losses.
Sony said it would report further impairment losses of 66 billion yen, or $0. 856 billion, for the last three months of 2011 as a result of its withdrawal from the Samsung joint venture.
But the company said in a statement that it expects the move to cut its LCD business costs by 50 billion yen a year.
\"Sony\'s goal is to ensure Samsung\'s flexible and stable supply of LCD panels based on market prices without taking responsibility and costs for operating the manufacturing plant,\" Sony said in a statement . \".
Meanwhile, Samsung Electronics, the world\'s tablet leader
Flat panel TV, will have more freedom under production-
Generate display by controlling S-LCD.
The manufacturer said in a regulatory document that its board approved the plan on Monday.
Sony\'s roots-
The Samsung alliance dates back to the 1990 s, when Samsung stood out from the Asian financial crisis as a powerful force due to continued costs
Actively explore overseas markets.
At the same time, Sony is lagging behind in several important markets, especially in computer monitors and tablets.
Flat-screen TV, one cut place-
When consumers flock to LCD and plasma displays, edge manufacturers still insist on using the old cathode ray tube technologyscreen TVs.
In the face of a complete failure in the TV market, Sony wants Samsung to reverse its flagging fate and reach a series of deals, including $2. billion state-of-the-
Art LCD joint venture in South Korea.
These companies also support Blu-ray.
Ray disc format and patent-
Sharing relationships.
For Samsung, these deals are a recognition of its global position.
The South Korean manufacturer has now taken over from Sony as the King of consumer electronics.
In the most recent full fiscal year, Samsung sold more than $14 billion in revenue of $134 billion, while Sony lost $3 billion in sales of $92 billion.
By contrast, Apple, the world\'s most profitable consumer electronics company, earns $25.
Sales were $92 billion, or 108 billion.
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