Sony Exits Sharp LCD Partnership To Stem TV Biz Losses

Law360, New York (May 24, 2012, 3:52 PM EDT) -- Sony Corp. is ending its joint venture with Sharp Corp. to make liquid crystal displays for TVs and will instead buy its panels on the market, the company said Thursday, part of its two-year plan to cut costs at its money-bleeding television business.

Sony will sell back its 7 percent stake in the joint venture Sharp Display Products Corp., which produces panels in Japan. The company will get back the 10 billion yen ($126 million) it originally invested in 2009.

Tokyo-based Sony had already canceled plans...
To view the full article, register now.