According to a latest update, Sony and Sharp have announced the termination of a partnership formed in 2009. 

To rewind; Sony have invested $126 million (£80 billion) in Sharp's LCD display business and received a 7 percent stake in Sharp's display manufacturing. 

The deal started to go really sour, when Sony announced in March that they wouldn't inject any more financing into the venture. At that time, Sony’s eventual exit was widely expected.

After the termination, Sony will receive  a cash consideration equal to its original investment of 10 billion yen ($ 126 million) by end of June, 2012.

Besides terminating LCD joint venture with Sharp, Sony has also terminated its joint venture with Samsung Electronics to produce flat panels recently.

Market watchers believe, the latest announcement is indicating that both the tech giants (Sony and Sharp) are struggling to make their TV business profitable.