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Japan : Sony to dissolve LCD panel deal with Sharp
Publish Date : 25-May-2012
Troubled electronics giants Sony and Sharp said on Thursday they would dissolve their liquid crystal display (LCD) joint venture, as the sector in Japan struggles with a strong yen and cheaper foreign rivals.
The expected move comes two months after Sharp announced an US$808 million (S$1.0 billion) link-up with Taiwan\'s Hon Hai Precision.
Thursday\'s agreement will see Sony sell its entire stake of 7.04 per cent in the venture - Sharp Display Products - for 10 billion yen (S$161 million), the same amount it spent at the time of the tie-up.
