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Samsung snaps up Sony's share of joint S-LCD business for $940m

Samsung will soon own the whole kaboodle of the flat-panel manufacturing joint venture it established with Sony in 2004.

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Jessica Dolcourt
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Jessica Dolcourt Editorial Director / CNET Franchises, How-To, Performance Optimization
Jessica Dolcourt leads the CNET Franchises, How-To and Performance Optimization teams. Her career with CNET began in 2006, and spans reviews, reporting, analysis and commentary for desktop software; mobile software, including the very first Android and iPhone apps and operating systems; and mobile hardware, with an emphasis on iPhone and Samsung. Jessica was one of the first people in the world to test, review and report on foldable phones and 5G wireless speeds. Jessica began leading CNET's How-To section for tips and FAQs in 2019, guiding coverage of practical advice on expansive topics ranging from personal finance to phones and home. She holds an MA with Distinction from the University of Warwick (UK).
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Sony hopes that sloughing off its LCD manufacturing business will stem some losses with its struggling TV biz.

Samsung's screen technology business is about to get even bigger.

Samsung is now buying up Sony's share of the two companies' joint venture, S-LCD, for $940 million, or approximately 1.08 trillion South Korean won. The acquisition will shift Sony's 50 percent of the company--minus one share--into Samsung's possession, making it the S-LCD Corporation a wholly-owned Samsung subsidiary.

The shift is intended to ease some of Sony's continuing struggle with its TV business, which has posted a loss over eight straight years.

In addition to Samsung assuming control of the company, which manufactures LCD panels for consumer electronics like televisions and mobile phones, Sony will continue to source some of its LCD panels from S-LCD.

Sony and Samsung expect to complete the hand-over by the end of January 2012. Sony, in the meantime, also announced it will take a one-time charge of 66 billion yen ($845.4 million) due to a "reevaluation" of its S-LCD shares, partly due to the exchange rate. Over time, however, the company expects to see roughly 50 billion yen in annual savings as a result of shedding S-LCD's manufacturing arm.