In a significant deal, Korean major Samsung Electronics will acquire Japanese firm Sony's entire stake in their liquid crystal display (LCD) joint venture.
Samsung will pay 1.08tn ($939m/£600m) in cash for purchasing an entire stake of Sony.
The deal will respond to the slowing global demand of Sony technology and the two majors have agreed to make a new shift in their LCD business alliance.
Sony has been facing a huge loss for the past seven years since the financial crisis in 2008. The two companies had established a joint venture in LCD in 2004 after the global economy as well as the demand for consumer electronics declined.
With the deal, Sony will get LCD panels from Samsung without taking the credit as the manufacturer.
Samsung will pay 1.08tn ($939m/£600m) in cash for purchasing an entire stake of Sony.
The deal will respond to the slowing global demand of Sony technology and the two majors have agreed to make a new shift in their LCD business alliance.
Sony has been facing a huge loss for the past seven years since the financial crisis in 2008. The two companies had established a joint venture in LCD in 2004 after the global economy as well as the demand for consumer electronics declined.
With the deal, Sony will get LCD panels from Samsung without taking the credit as the manufacturer.
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