News: Samsung buys Sony’s stake in LCD joint venture

Sony and Samsung have ended their LCD joint venture which started back in 2004. The split comes after rumors of the same were reported in October.Recently Sony announced it’s November figures which indicated a  $1.2 billion annual loss due to weak demand from its loss-leading television division coupled with a strong yen. Samsung will buy all of Sony’s 50 percent share for 1.08 trillion won (about $938.97 million) and convert the joint venture into a wholly-owned business. The deal is expected to close by January of 2012 subject to regulatory approvals.