Sony May Soon Give Details on Sharp LCD Venture

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Sony Corp. may shortly make an announcement on details of a venture with Sharp Corp. to make liquid-crystal displays, an executive said.

Tokyo-based Sony, which makes Bravia televisions, will “boost competitiveness” through the LCD venture, Ryoji Chubachi, Sony’s vice chairman said in an interview in Karuizawa, Nagano prefecture, today.

Sony’s initial investment in the venture may be as much as 60 billion yen ($633 million), the Nikkei newspaper reported earlier, without saying where it obtained the information. Sony and Sharp announced a plan to jointly produce LCDs in 2008. Sony was not the source of the Nikkei report, Shinji Obana, the company’s Tokyo-based spokesman said by phone today.

Sony shares rose 1.7 percent to 2,370 yen as of 9:10 a.m. on the Tokyo Stock Exchange, extending its gain this year to 23 percent.

By Mariko Yasu and Shunichi Ozasa (bloomberg.com)

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