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Samsung, Sony chiefs may discuss 3D TV deals, LCD supplies

By May 24, 2010March 24th, 2020Newswires

Samsung, Sony chiefs may discuss 3D TV deals, LCD supplies

By Miyoung Kim and Kiyoshi Takenaka

SEOUL/TOKYO (Reuters) – Just days after unveiling a Sony-branded Internet TV with Google, Sony’s chief executive is set to meet rival Samsung Electronics, for possible alliances, as the Japanese consumer electronics maker aims to turn its TV business profitable with aggressive sales targets.

Monday’s closed-door meeting between Sony CEO Howard Stringer and Samsung’s Lee Kun-hee, is the first since Lee returned as chairman of the South Korean technology powerhouse in March.

Sony has described this one of its regular and traditional discussions with flat-screen partner Samsung.

The meeting is widely seen by analysts as a move by Sony to address tight LCD supplies for TVs, but Samsung may also seek alliances with Sony to set up a common standard in 3D technology, the next big thing that many electronics firms are betting on.

“It’s mainly aimed at Sony rebuilding and consolidating its relationship with Samsung because its strategy of diversifying panel suppliers to the likes of Sharp has failed to ensure smooth supplies,” said Ricky Seo, an analyst at KB Investment & Securities.

“So, it’s like Sony coming back for more cooperation as it needs Samsung to meet its aggressive promotion of TV business, especially to get advanced panels for 3D TV production.”

Since returning to the helm of Samsung Group’s crown jewel in March, Lee, 68, has unveiled a record $16 billion investment plan including $4.2 billion in LCD, and Samsung’s first chip line construction in five years.

Read the whole story here.

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