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Daily News

Sony Denies Joint Venture with Samsung, LG
Dec 29, 2003
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Japan's Sony Corp. is denying a media report that it had proposed forming a flat panel joint venture with South Korea's Samsung SDI Co. and LG Electronics Inc.

Specifically, Sony is denying a report from the The Korea Economic Daily that quoted Samsung and LG officials as saying that they had received an official proposal from Sony to form a PDP (plasma display panel) joint venture.

"We never had such talks with them," a Sony spokesman said.

"We now need to focus on a joint venture with Samsung Electronics Co Ltd. liquid crystal displays (LCDs)," he added.

The Japanese electronics and entertainment company agreed in October to a U.S. $2-billion deal with Samsung Electronics to jointly produce LCD flat screens, a common type of flat screen used for computers, notebooks, and televisions.

Sony's comments followed similar denials from LG and Samsung SDI. (Reuters)

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