Sony-Sharp seal LCD Panel joint venture deal
Electronics giants Sony and Sharp have announced a new joint venture for the manufacture of LCD televisions panels. Sony will reportedly invest £665m in Sharp Display Products Corp. in December this year. The deal will apparently raise it’s stake from 7% to 34% by April 2011. Sharp has intended to begin the manufacture in October with an aim to produce 6.5 million 42” panels in the first year. Agreements between the duo have been on the cards since February 2008, but was hindered by the economic slowdown.
The share split appears to consist of 34 percent Sony and 66 percent Sharp and the deal is reportedly to be completed by March 2010. The joint venture will for the most part result in the production of 32” LCD screens. With the demand for LCD TVs on the rising edge this year, this deal is said to facilitate the industry. According to Sharp, operations might start at the LCD plant in Sakai, Japan in October.
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