Sony ends the LCD venture with Samsung

Sony Corp has now agreed to end the LCD joint venture along with Samsung Electronics. It has decided to sell the stakes to the South Korean company claimed a source that is familiar with this matter. This decision comes when Sony warned about the four consecutive years of losses in November. The television unit of Sony itself faced a loss of $2.2 billions.

The Japanese television maker said that it will revamp the LCD panel procurement and declined to provide any comments on the reports about the ending of the joint venture with Samsung. A spokesman of Samsung said that both the companies will make announcements about this joint venture at 06.30 GMT.

Sony has about 50% share in the stakes of LCD joint venture known as S-LCD that was established in 2004 April. The shares in Sony were up by 1.75% while that of Samsung was flat at 05:35 GMT. Samsung is the number one television maker while the other company is looking to come to the second position with the tie up with LG Electronics.