Sony to delay stake in Sharp JV at least a year

TOKYO: Sony Corp will not raise its stake in a liquid crystal display production joint venture with Sharp Corp for at least a year, delaying a plan to bolster production ties, a source at Sony told Reuters.

Talks with Sharp will continue for another year after a previously agreed deadline at the end of April to negotiate a stake increase, said the source, who is involved in the discussions.

Sony spokeswoman Yuki Shima said that abandoning plans for upping its stake to 34 percent from 7 percent was one option being considered by the consumer electronics giant, but that talks would continue until the end of the month before a decision is made.