March 28, 2012 10:52 pm EDT

Sony and Sharp joint venture hits a rocky patch, Sony cuts off capital

When Sharp sold off some of its LCD manufacturing business to Hon Hai Precision we knew the company had fallen on tough times, we just didn't realize how bad things truly were. That joint venture it formed with Sony, well, it's all but over at this point. The two companies have amended their deal with each other and Sony has decided not to inject any more capital into the project. That's not entirely surprising since the relationship was already starting to show signs of strain, but the partnership could crumble at any moment. A study period has been designated, through the end of September, to decide what the future holds for the two regarding the production and purchase of large panel LCDs, but at any time Sony can simply demand that Sharp buy back its shares and leave the venture. For Sharp's sake, we certainly hope Hon Hai is in this for the long haul. Check out the legalese stuffed PR after the break.

Continue reading Sony and Sharp joint venture hits a rocky patch, Sony cuts off capital

Sony and Sharp joint venture hits a rocky patch, Sony cuts off capital originally appeared on Engadget on Wed, 28 Mar 2012 18:52:00 EDT. Please see our terms for use of feeds.

Permalink | ||Comments

Original Link: http://www.engadget.com/2012/03/28/sony-and-sharp-joint-venture-hits-a-rocky-patch-sony-cuts-off-c/

View Full Article

Engadget

Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics. Engadget was launched in March of 2004 in partnership with the Weblogs, Inc. Network (WI

More About this Source Visit Engadget