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.
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