Samsung Electronics Co. Ltd. this week said it will purchase Sony Corp.’s 50 percent stake in the S-LCD Corp. for about $935 million.
Under the agreement, Samsung will acquire all of Sony’s shares of S-LCD Corp to become a wholly owned subsidiary of Samsung.
The joint venture, which was founded in 2004, was built to cost-reduce the manufacture of LCD panels. Sony, however, will part with its stake in the venture due to consecutive losses from the partnership.
Sony will continue to take supply of LCD panels through the venture in a new agreement with Samsung.