joint venture
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Sony Honda Mobility Inc. is the new name of Sony and Honda's EV business
After Sony and Honda announced plans to form a separate company for their joint electric vehicle partnership, they've now given it a name.
Sony and Honda want to make their EV partnership a standalone business
Sony and Honda plan to make their EV joint venture a separate business.
Sony and Honda announce plan to build EVs together
Sony and Honda have created a memorandum of understanding to design and market electric vehicles together.
Renault and China's Geely will form a hybrid-focused joint venture in Asia
They'll focus on China and South Korea at the outset.
Daimler and Volvo team up to make fuel cells for trucks and generators
Daimler and Volvo are forming a joint venture to create hydrogen fuel cells for heavy-duty trucks and even power generators.
Hyundai teams with Aptiv to put self-driving cars on the road by 2022
Hyundai is getting particularly serious about its self-driving car strategy. The Korean car maker has formed a joint venture with Aptiv to foster Level 4 and Level 5 autonomous technology (that is, completely self-driving in some or all situations). They hope to start testing their systems in 2020 and hope to have a platform ready for autonomous taxis, fleets and other car makers in 2022.
Sprint turns to a British retailer to reverse its US fortunes
It's been almost a year since UK retailers Dixons and Carphone Warehouse tied the knot. Life as a combined entity, known as Dixons Carphone, is off to a good start: profits are up and the company made efforts to expand its presence, including the launch of its own mobile network. Not content with growth in its existing UK and European markets, the company announced today that it's setting its sights on a bigger prize: the US. In a partnership with Sprint, America's third-largest mobile carrier, Dixons Carphone's Connected World Services (CWS) division will initially launch up to 20 Sprint-branded retail stores, lending its "home retail expertise and proprietary knowledge" to help the operator sell people more plans and devices.
ST-Ericsson joint venture begins dissolution process, 1,600 jobs gone in the process
It's typically a bad sign when a major semiconductor company sees its CEO walk away, and no one in adjoining offices stops to do anything about it. Such is the case with ST-Ericsson, a (now) failed joint venture of STMicroelectronics and Ericsson. The two outfits have seemingly failed to find a suitor for the JV, leaving them with relatively few options -- poor ones at that. In a release posted today (and embedded after the break), the entity has stated that each partner company will take on some of the business, but around 1,600 jobs will be lost from the sectors that neither has interest in. ST-Ericsson was an attempt to jump-start a semiconductor business in Europe, but it actually hasn't turned a profit since forming in 2008. Ericsson will take on the design, development and sales of the LTE multimode thin modem products, including 2G, 3G and 4G multimode, while ST will take on the existing ST-Ericsson products, other than LTE multimode thin modems, and related business as well as certain assembly and test facilities. It's expected that the particulars will clear regulatory hurdles in Q3 of this year, and in order to make sure things go as well as they can in the interim, Carlo Ferro is being appointed president and CEO of the JV starting on April 1st.
Sharp and Qualcomm to team up for energy-efficient IGZO display venture
We already knew that Sharp's been asking around for some much-needed help recently, and now we can all breathe a sigh of relief, as Nikkei is reporting that said manufacturer has finally found a new friend to help co-develop its energy-efficient IGZO LCD panels. Set to announce as soon as Tuesday (presumably Japan time), the deal will involve Qualcomm initially throwing in five billion yen ($61 million) by the end of the year, with a double-down of another five billion yen after "sufficient progress has been made." There's no timeline yet on when (or if) a full investment would be secured, but if all goes to plan, Qualcomm will eventually hold nearly five percent of Sharp's stock, whereas Sharp will more or less get back the 10 billion yen it lost to Sony following the termination of their joint venture earlier this year. Additionally, Sharp will also share some of the IGZO magic with Qualcomm to help improve the latter's Pixtronix MEMS display technology. Not a bad way for the two companies to wrap up 2012, eh? Richard Lai contributed to this report.
Sony formally quits Sharp LCD joint venture, takes back every yen it invested
After Sony cut off its supply of capital to the ill-fated Sakai production plant that it jointly owns with Sharp, it became clear that the final goodbye may be little more than a formality. And here it is, in the form of a cold, resolute press release stating that Sony is selling its seven percent stake back to Sharp and taking back the 10 billion yen ($126 million) it originally invested. The only reason given is the "rapidly changing market for LCD panels and LCD televisions," which is a polite reference to the fact that profits from big TVs are well below what these companies predicted back in the heady days of 2008 and early 2009, when the impact of the global economic crisis loomed without yet being fully apparent. Fortunately for Sony, which is in the delicate stages of reform, the solid pre-nuptial agreement it had in place with Sharp should protect the company from having to revise its financial forecasts for the coming year -- not that those were particularly great in the first place.
Sony, Toshiba, Hitachi joint venture Japan Display fires up operations
The joint venture that is Japan Display agreed on its formalities back in November, and has now finally started operating. While Sony, Toshiba and Hitachi all have a 10 percent stake in the business, the main investment comes from the government-backed INCJ. The collaboration hopes to champion the middle- and small-sized display sector, and has around 6,200 employees, and ¥230 billion (about $2.8 billion) of capital to help it on its way. Now that the wheels are finally in motion, an announcement of its operational divisions, which include "Mobile Business" and "Automotive" hint at what we might expect from the business going forward. Assuming no one sells up that is.
Fujitsu buys out Toshiba's stake in mobile joint venture, division now called Fujitsu Mobile Communications
April 2, 2012: a great day to officially wash your hands of an unprofitable business. On the heels of Philips stuffing its TV biz into a joint venture, Fujitsu announced it has bought out Toshiba's stake in Fujitsu Toshiba Mobile Communications (just like we knew it would). Fujitsu already had a controlling 80.1 percent interest in the company, so this doesn't exactly mark a seismic change in management. Still, with that final 19.9 percent it's now a fully owned subsidiary of the Fujitsu Group, and has been rechristened Fujitsu Mobile Communications. We've got the PR below, but unless you want to know how much capital the division has (¥450 million, to be exact), we think we've got you covered on the facts.
Samsung, NTT DoCoMo, et al. cancel plans for LTE chip joint venture
Looks like the decision to not make a decision has... well, created a decision. Back in December of 2011, NTT DoCoMo, Panasonic, Samsung and a smattering of other Japanese firms put their heads together in order to launch a joint venture to manufacture and sell ICs for mobile devices. Communication Platform Planning Co. was actually established with the goal to hawk these LTE semiconductors, but now that a consensus on how it'd all play out wasn't reached by the March 2012 deadline, it'll be liquidated in June. Reportedly, DoCoMo even set aside some $5.4 million to set up the now-defunct subsidiary, but now it's all for naught. The entire press release is embedded just after the break, though it's about as light on deets as they come.
Philips transfers TV business to a joint venture with TPV Technology, TPV takes the controlling stake
It took almost exactly a year, but Philips is finally free of its pesky, money-losing TV problem. As planned, the company transferred its television business into a joint venture with Hong Kong-based TPV Technology called TP Vision -- an arrangement that endows TPV with a controlling 70 percent stake. (Philips will still receive royalties on top of whatever it earns through this venture, and plans to sell Philips-branded sets in the US through a separate partnership with Funai.) Though the deal was first detailed a year ago, Philips only announced today that the transaction had closed. Now that it has, the newly formed company will produce Philips-branded TVs in a bid to make it one of the "top three players," according to TP Vision chief Maarten de Vries. As you'd expect, all of the 3,300 employees that previously fell under Philips' television division will now be in the employ of TP Vision, and Philips' various manufacturing sites have been transferred over too. All of that and a healthy dose of rah-rah in the full PR below.
Sony and Sharp joint venture hits a rocky patch, Sony cuts off capital
When Sharp sold off some of its LCD manufacturing business to Hon Hai Precision we knew the company had fallen on tough times, we just didn't realize how bad things truly were. That joint venture it formed with Sony, well, it's all but over at this point. The two companies have amended their deal with each other and Sony has decided not to inject any more capital into the project. That's not entirely surprising since the relationship was already starting to show signs of strain, but the partnership could crumble at any moment. A study period has been designated, through the end of September, to decide what the future holds for the two regarding the production and purchase of large panel LCDs, but at any time Sony can simply demand that Sharp buy back its shares and leave the venture. For Sharp's sake, we certainly hope Hon Hai is in this for the long haul. Check out the legalese stuffed PR after the break.
Sony finalizes divorce with Ericsson, renames itself Sony Mobile Communications
More than half of America's married couples will tell you, breaking up is hard. Hard and expensive. After living in denial, dodging rumors and eventually coming to terms with the inevitable, Sony has finally taken over Telefonaktiebolaget LM Ericsson's 50-percent stake in the pair's former joint venture, a move that was earlier reported to have cost €1.05 billion ($1.37 billion) to complete. The now fully Sony owned Sony Ericsson will be renamed Sony Mobile Communications, though a few of the outfit's already announced children are keeping their papa's name. Hit the break for Sony's small press release.
Corning and Samsung ink new joint venture, plot Lotus Glass future for OLED devices
Anyone keeping a close eye on the mobile market knows that Samsung and Super AMOLED, much like peanut butter and jelly, are inextricable bosom buddies. So, this recent tech marriage between the Korean electronics giant and Corning (of Gorilla Glass fame) shouldn't come as much surprise for fans of super saturated screens. Under terms of the agreement, both parties will jointly manufacture Lotus Glass for use in smartphones falling under the Galaxy umbrella, as well as Super OLED TVs. The substrate, heralded for its ability to withstand "higher processing temperatures" without compromising structural stability, will help create a range of less power consumptive, high-resolution devices. Unexciting? Sure, but you didn't think those 720p displays were going to make themselves, now did you? Official PR after the break.
NTT Docomo, Panasonic, Samsung and more team up to take on Qualcomm over cellphone chips
Japanese mobile operator NTT Docomo just announced (as had been rumored) it's forming a joint venture with five partners -- Samsung, Panasonic, Fujitsu Limited, Fujitsu Semiconductor and NEC -- to develop and sell chips for mobile devices. According to the press release the fabless JV will get started once all involved finish hammering out the details and focus on creating LTE-connected products for the global market. NTT Docomo is investing $5.8 million to create a subsidiary, Communication Platform Planning Co., in preparation with one of its executives as CEO. Currently Qualcomm makes the majority of chips found in smartphones, but it appears to have some high-powered competition on the way soon.
Sony sells its stake in Samsung LCD team-up for $939 million
Sony and Samsung have decided to part ways on their seven-year-old LCD venture. Possibly due to Sony's recent struggles in the increasingly competitive world of TV division, Samsung will buy up its 50 percent share for around $939 million. The Japanese company has agreed to a new strategic agreement to source Sammy's LCDs in the future and, according to Sony, will continue "cooperative engineering efforts focused on LCD panel technology." Its full explanation follows after the break.
Sony Ericsson to become Sony in mid-2012
Sony and Ericsson's decade-long partnership may have humbled Kim Kardashian, but dwindling market share and an over-reliance on feature phones signaled the end of the affair. Ericsson will have until "mid 2012" to clear its things from the spare room before the electronics giant begins a new solo venture. The revitalized enterprise will leverage its parent company's brand strength, R&D and content (since it owns a massive chunk of the entertainment industry) and in comments made to Times of India, company Vice President Kristian Tear said there would be a "fierce" advertising push to restore the company's reputation as a major player worldwide -- before taking a Pilates class to try and fit back into its bachelor pad.
