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Sony confirms LCD TV deal with Sharp

February 26th, 2008 · No Comments

Sony has confirmed that it has signed ‘a non-binding memorandum of intent to establish a joint venture to produce and sell large sized LCD panels and modules’ with rival panel-maker Sharp. Rumours suggest that the company will invest upwards of 100 billion yen in Sharp’s 10th generation LCD panel-making plant in Sakai City, Osaka, due to open its doors in 2010.
The new joint venture will guarantee Sony access to screens to meet growing demand. TV makers without such procurement deals are expected to struggle as demand rises and panel supplies tighten.
When news of Sony’s discussions with Sharp broke, a shockwave apparently rippled through existing partner Samsung, which is not thought to have had prior notice of the deal. Samsung LCD president Lee Sang-wan quickly issued a statement that all was well with its alliance with Sony. The Sony-Samsung pact stretches back to 2003, when the Japanese giant poured two trillion won into a joint venture company, dubbed S-LCD, in an effort to gain a foothold in the fledgling LCD TV market.

Tags: Corporate · LCD TV · Trade

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