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Samsung, Sony agree to increase investment in LCD joint venture

Samsung, Sony agree to increase investment in LCD joint venture

Samsung Electronics Co. and Sony Corp. have agreed in principle to invest further in their liquid crystal display joint venture, a Samsung executive said Thursday.
"Both sides reached a consensus on the joint investment and working level officials are now discussing details such as the timing and amount of the investment," Cho Yeong-duk, vice president of Samsung's LCD business, told Dow Jones Newswires.
Samsung and Sony, which compete in the global home appliances and consumer electronics market, including LCD TVs, formed S-LCD Corp. in April 2004 to ensure stable procurement of flat TV panels for their products.
Earlier this week, the joint venture began shipping panels from its eighth-generation production line, which will focus on panels of 52 inches and 46 inches.
The joint venture is already producing 40-inch and 46-inch LCD-TV panels using seventh-generation technology at the plant, located in Asan, about 90 kilometers (55 miles) south of Seoul.