Electronics giant Sony said on Feb. 2 it will buy a Chinese subsidiary of Seiko Epson that makes liquid crystal displays as it looks to meet demand for devices such as smartphones.
Sony said it will buy the firm for $118 million, as it looks to produce displays without having to outsource the process so it retains control over the production chain.
Seiko Epson, a printer and components maker based in Nagano Prefecture, central Japan, plans to sell its Chinese unit, Suzhou Epson, to Sony by the end of this September, the two firms said.
For Seiko Epson, the sale enables it to realign part of its operations and direct more resources elsewhere, such as into making displays used for projectors.
Copyright Agence France-Presse, 2011