Sony will sell off LCD TV plant
There's a lot of news these days about large companies buying up smaller companies, but now, Sony wants to actually sell one of the biggest parts of its very large corporation.
The electronics giant confirmed this week that it will get rid of its LCD TV manufacturing plant in Barcelona, Spain to Ficosa International and Cosma Emte. Both will take half of the facility, which is being split to a manufacturing site and a research and development unit.
Sony's TV unit is one of the company's least profitable. Maybe that's because everyone who walks into Best Buy immediately walks away from the much larger price tags on the wall of Sony sets.
It is not going out of the TV business, though. Not by a long shot. However, it will just no longer perform all of the grunt work in-house. Manufacturing and other processes will now be outsourced. The two companies involved in the sale will actually work with Sony as part of the deal.
Additionally, Sony still has a few dozen TV facilities around the world, but it has been on a slimming trend of shaving off a number of them and focusing more on outsourcing its operations.
Sony expects to officially close the deal later this year.