On Monday, May 24, 2010, both Sony and Samsung's CEO's met at Seungjiwon at an office compound of Samsung's CEO Lee Kun-hee. Sony's CEO Howard Stringer and Samsung CEO Lee Kun hee, two of the top companies leading in the display market, met to discuss undisclosed topics. Other people that were present included, Samsung Electronic's Chief Operating Officer Lee Jae-yong, Samsung Electronic's President Choi Gee-sung and Sony's Executive Deputy President Hiroshi Yoshioka. Details of the meeting are not verified but there is plenty of speculation.
Both companies combined for a joint venture on LCD's and S-LCD's in 2003 to manufacture more panels. Sony is currently facing a tight supply of LCD panels, but they are looking to expand their TV market shares. Sony's TV sales has been growing, and they are looking to continue that. Another topic that was likely discussed is about the emerging 3D industry. If there are discussions about possible cooperation, it could be beneficial for Samsung given Sony's strength in content and games.
This meeting comes after Samsung announced it's plans to invest US$16 billion to boost it's output on microchips and display panels. Samsung is currently the world's largest LCD TV maker, owning 23% of the global market in 2009. Sony follows in second place, while LG Electronics is in third place.
