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Sony, Samsung to make LCD panels together


Monday, October 20, 2003 Sony Corp. is in talks with Samsung Electronics about cooperating on making liquid crystal displays, Sony said Friday.

Japan's business daily Nihon Keizai Shimbun reported Friday that Sony and Samsung have reached a preliminary agreement to set up a 200 billion yen ($1.8 billion) joint venture that will produce liquid crystal displays in South Korea as early as next year.

If the new alliance is set up, Sony and Samsung would be seeking to play catch-up with Japanese electronics maker Sharp Corp., which controls about 60 percent of the world market in flat panel TVs.

After posting a loss for the first three months of this year, Sony jumped back in the black the following quarter, but profits dwindled to 1.1 billion yen ($9 million) from 57.2 billion yen a year ago as sales dipped nearly 7 percent.

By: DocMemory
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