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MagyarSony, Toshiba and Hitachi joint display venture now official
Back in August of this year, we heard about Sony, Toshiba and Hitachi working on a joint LCD venture, and now that all the legal documents have been signed, the merger has been officially announced.
Similar to what we’d previously heard, the trio will each have a 10 percent stake in the newly formed Japan Display Inc.; while the government-backed Innovation Network Corporation of Japan (INCJ) will control 70 percent of the venture thanks to an investment of around 200 billion Yen ($2.6 billion). Furthermore, Panasonic appears to be getting in on the action by selling one of their TV panel factories to Japan Display Inc., although the details of the sale have not been announced.
The venture, which is expected to launch in spring of next year, aims to fight increased competition from Korean and Chinese manufacturers by combining the small and medium-sized display production powers of Sony, Toshiba and Hitachi. The 3 companies hope that by pooling their resources, they can “establish new production lines” and “meet the market demand for high value-added products”. Of course, whether or not the venture succeeds will have to be seen, but for now investors will surely settle for Japan Display Inc. becoming the world’s largest touchscreen LCD producer.