Samsung, Sony May Partner to Make LCD Monitors
Sep 22, 2003
| Print this page
South Korea's Samsung Electronics Co. said that it is reviewing plans to set up a joint venture with Japan's Sony Corp. to manufacture liquid crystal display (LCD) monitors.
A Samsung spokesman told Dow Jones Newswires that the company will reveal the plans in a disclosure to the Financial Supervisory Service, but he didn't say when.
Earlier Monday, the JoongAng Ilbo newspaper reported that the two electronics giants will jointly create a company that could rival LG Philips LCD, a 50-50 joint venture between South Korea's LG Electronics Inc. and Philips Electronics N.V. of the Netherlands.
South Korea's Yonhap news agency quoted an unidentified Samsung official as saying that talks on the tie-up with Sony began 6 months ago and "the details are expected to be completed by the end of this year."
A Samsung spokesman declined comment, saying "nothing has been determined at this time."
The JoongAng Ilbo quoted industry sources as saying the two companies are negotiating investment terms, with Samsung possibly handling management and production, while Sony would be responsible for marketing and finance.
Yonhap said the LCDs will likely be manufactured at Samsung's plant in Asan, in South Chungcheong province. (AP)
Back to Breaking News