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Sony ends panel joint venture with rival Sharp

Thu, 05/24/2012 - 3:29am
The Associated Press

Sony Corp. is ending its joint venture with rival electronics maker Sharp Corp. to produce and sell large liquid-crystal displays for TVs.

Sony said Thursday it will sell back to the joint venture Sharp Display Products Corp. all 7 percent of the stake it has held since 2009.

Sony will receive 10 billion yen ($126 million), the same as what it paid for the shares of the Sharp subsidiary, which produces panels in Sakai city, western Japan.

Tokyo-based Sony, which makes the Walkman portable player and PlayStation 3 game machine, recently also ended its joint venture with Samsung Electronics Co. to produce flat panels.

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