Reports On Joint LCD Investment Denied By Samsung And Sony

Reports On Joint LCD Investment Denied By Samsung And Sony

24th January 2010

A newspaper repost has been denied by Samsung Electronics Co Ltd and its flat screen partner Sony on Wednesday. The report says that both these firms have agreed to make another joint investment, which will be going to worth $3 billion, in their LCD producing capacity. Without even citing and giving the names of the sources, Donga Ilbo of South Korea reported on Wednesday that Sony and Samsung would make another joint venture in their liquid crystal display (LCD), in order to build their next-generation production line.

According to James Chung, a spokesman of Samsung, the report was baseless. And at the same time, a spokesperson of Sony has said that nothing was true in the report. He did not even give explanation on this denial. Despite of facing rivalry with Sony in the business of television, Samsung, the biggest maker of LCD screens and TV`s, has been collaborating with Sony in panel making. And behind Samsung, Sony has been known to be at the second place in the making of LCD TV`s.

The operations, which will help in starting and building of new LCD production line, have been started in the last year. This is going to be the joint venture between the two big firms and approximately 1.8 trillion will be spent on this venture. This joint venture has spent this entire bunch of money in S-LCD`s latest investment.