Sony Sells LCD Venture Stake to Samsung for $940M

Sony Corp. is selling its nearly 50% stake in an LCD joint venture with Samsung Electronics to the South Korean company for $940 million, Reuters reported over the weekend. The seven-year-old venture cut its capital by 15% in July and industry sources had said Sony was negotiating an exit, aiming to switch to cheaper outsourcing for flat screens for its TVs while Samsung pushes ahead with next-generation displays, Reuters wrote.

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