Sony and Samsung move to the new conditions of cooperation
Sony Corporation (“Sony”) and Samsung Electronics Co, Ltd (“Samsung”) today announced the signing of the new agreement, which relates primarily to the joint venture S-LCD. It is located in South Korea plant produces LCD panels 7 and 8 generations, was built in 2004. 50% +1 share of capital in it belongs to Samsung and 50% -1 share for Sony.
Under the new agreement gives Sony its share fully Samsung, for which he will receive appropriate compensation. At the same time Samsung Sony ensures delivery of LCD panels now fully its plant. The final payment amount will be determined on the basis of financial reporting S-LCD at the end of December 2011.
It is expected that the reorganization of the company have a positive impact on flexibility, speed and efficiency, will help to quickly respond to rapidly changing demands of today’s market.