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Sony said backing off of bigger stake in Sharp LCDs

updated 05:10 pm EDT, Mon April 18, 2011

Oversupply of LCD displays diminishes interest

Japanese business daily Nikkei reported that Sony will not be increasing its stake in its investment in Sharp Display Products, a joint venture between itself and Sharp. Sony had invested 10 billion yen ($1.2 billion USD) in the joint venture in 2009. It's initial stake was seven percent, and according to the agreement, it could have risen to 34 percent by the end of this month.

At the core of Sony's decision was the softness of the market for Japanese displays. This was caused by the strength of the Japanese yen, making the Sharp displays more expensive than competing Taiwanese and South Korean Products. At the same time, these producers have ramped up production creating an oversupply in the market for LCD television screens.

by MacNN Staff





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