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Sony abandons further investment in Sharp LCD collaboration

Sony has announced that it will make no further investment in Sharp Display Products Corporation (SDP), its joint LCD production venture with Sharp, following yesterday's news that Foxconn would be taking a 46.5 percent stake. A decision on what Sony will do with its seven percent stake is expected by September.

sony tv logo
sony tv logo

Sony has announced that it will make no further investment in Sharp Display Products Corporation (SDP), its joint LCD production venture with Sharp, following yesterday's news that Foxconn would be taking a 46.5 percent stake. The two companies have further amended their agreement to give Sony the right to sell its seven percent stake in SDP to Sharp in the event of a third party (such as Foxconn) entering in the partnership. A decision on what Sony will do with its stake is expected by September. With new CEO Kaz Hirai personally overseeing the floundering TV business as part of the new 'One Sony' restructuring initiative, it may serve the company well to divest itself of any unnecessary assets.