Samsung buys Sony's entire stake in LCD joint venture

Samsung Electronics has agreed to buy out Sony's entire stake in their liquid crystal display (LCD) joint venture.

The Korean electronics maker said it will pay Sony 1.08tn won ($939m; £600m) in cash for its stake.
The move comes as Sony has been restructuring its TV business, which has been making a loss for the past seven years.
Samsung, meanwhile, has gone on to become the world's largest maker of TVs and flat screen panels.
"Under the agreement, Samsung will acquire all of Sony's shares of S-LCD Corporation, the two companies' LCD panel manufacturing joint venture, making S-LCD a wholly owned subsidiary of Samsung," Samsung Electronics said in a statement.
Tough times The joint venture between two companies was established in 2004, when a boom in the global economy saw a surge in demand for consumer electronics.
However, things have take a dramatic turn in the last three years.