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Sony, Samsung Finalize LCD Joint Venture

3/10/2004 12:52:00 PM Eastern

Tokyo – Sony and Samsung finalized the plans announced in October to form a joint LCD-panel manufacturing plant in South Korea, according to reports here.

The manufacturers are to invest approximately $1 billion each in a new joint venture company, called S-LCD Corp, that is to produce liquid-crystal display panels for large flat-panel TV displays.

The company will be established by the end of April. Under the deal, Samsung will appoint the president of the new operation. Sony is to name a chief financial officer and three other board members.

Sony and Samsung will purchase glass panels from the company for television displays they will build separately in their own assembly facilities.

The company is expected to begin mass production of panels in the third quarter of 2005.

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