South Korea: Samsung Electronics Co. and Sony Corp. have agreed in principle to invest further in their liquid crystal display joint venture, according to a Samsung executive.
“Both sides reached a consensus on the joint investment and working level officials are now discussing details such as the timing and amount of the investment,” Cho Yeong-duk, vice president of Samsung’s LCD business, told Dow Jones Newswires.
Samsung and Sony, which compete in the global home appliances and consumer electronics market, including LCD TVs, formed S-LCD Corp. in April 2004 to ensure stable procurement of flat TV panels for their products.
Earlier this week, the joint venture began shipping panels from its eighth-generation production line, which will focus on panels of 52 inches and 46 inches.
The joint venture is already producing 40-inch and 46-inch LCD-TV panels using seventh-generation technology at the plant, located in Asan, about 90 kilometers (55 miles) south of Seoul.