Sharp, Sony postpone LCD joint venture plans

Sharp and Sony have decided to delay the targetted start of a joint venure LCD (liquid crystal display) production and sales venture.

Sharp and Sony have decided to delay the targeted start of a joint-venture LCD (liquid crystal display) production and sales venture.

The two companies said changes in the world economy have pushed them to extend talks, originally started almost a year ago, and put-off by one year the targeted start of the new venture to March 2010.

The companies will continue to talk under a memorandum of understanding that was signed in February last year and now plan to reach a definitive agreement on the venture by the end of June this year.

The planned joint venture was supposed to start operating this year and take over a new LCD factory that Sharp has already started building in Sakai in western Japan. Through the new venture Sony would have shouldered roughly 34 percent of the cost of the ¥380 billion (US$4.2 billion) factory.

Sharp said the change in schedule for the joint venture won't affect the schedule of the new Sakai plant, which will begin operations in March 2010.

Join the newsletter!

Or
Error: Please check your email address.

Tags sonylcdsharp

More about SharpSony

Show Comments
[]