No LCD deal from Samsung, Sony meeting
Sony and Samsung Electronics discussed at a meeting on Monday further developing cooperation but not raising flat panel supplies to the Japanese firm as widely speculated, South Korea's Yonhap news agency reported on Tuesday.india Updated: May 25, 2010 09:11 IST
Sony and Samsung Electronics discussed at a meeting on Monday further developing cooperation but not raising flat panel supplies to the Japanese firm as widely speculated, South Korea's Yonhap news agency reported on Tuesday.
Sony chief executive Howard Stringer visited Seoul on Monday for a closed-door meeting with Samsung Electronics Chairman Lee Kun-hee in their first gathering since Lee returned as chairman of the South Korean technology powerhouse in March.
Sony described the meeting as one of its regular discussions with flat-screen partner Samsung amid market speculation that Sony may request increased LCD supplies as it aims to turn its TV business profitable with aggressive sales targets.
The two firms, which operate a LCD joint venture in Korea, discussed steps to move their cooperation forward but did not go into further business details such as boosting panel supplies, South Korea's Yonhap news agency quoted an unnamed Samsung official as saying.
Samsung has said the meeting was personal and declined to comment.
Yonhap said Sony executive deputy president Hiroshi Yoshioka, Samsung CEO Choi Geesung and its chairman's son and COO Jay Y. Lee also attended the meeting.
By 0240 GMT, shares of Samsung fell 1.9 per cent, versus a 3 per cent drop in the wider market. Sony shares were down 3.1 per cent.
First Published: May 25, 2010 09:07 IST