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Chairman says Samsung to focus on new products

South Korea’s Samsung Electronics will this year focus on developing new products and tapping into new businesses to get ahead of competitors amid the global economic slowdown, its chairman said Monday. Lee Kun-Hee, in a New Year’s speech to employees, said existing businesses would experience a stagnation in growth, and that new…

Sony to sell LCD venture stake to Samsung for $940 million

TOKYO/SEOUL (Reuters) - Sony Corp has agreed to sell its nearly 50 percent stake in an LCD joint venture with Samsung Electronicsto the South Korean company for $940 million, as it struggles to reduce huge losses at its TV business. The seven-year-old venture cut its capital by 15 percent in July and industry sources had said Sony…

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