Toshiba to take over LCD joint venture with Panasonic

Apr 01, 2009
The Toshiba building in central Tokyo. Japan's Toshiba Corp. said Wednesday it will buy out its liquid crystal display (LCD) joint venture with Panasonic Corp. for about 20 million dollars in a bid to overhaul the struggling business.

Japan's Toshiba Corp. said Wednesday it will buy out its liquid crystal display (LCD) joint venture with Panasonic Corp. for about 20 million dollars in a bid to overhaul the struggling business.

Toshiba, which has a 60 percent stake in Matsushita Co (TMD), will buy the remaining 40 percent from Panasonic for two billion yen (20.41 million dollars), spokeswoman Hiroko Mochida told AFP.

The business, set up in 2002 to produce small- and medium-sized LCDs for mobile phones, portable computers and car navigation displays, is the number two producer in that market after Epson.

The new company will become a wholly-owned subsidiary from April 28 and will be renamed "Toshiba Mobile Display Co," the company said.

"This is a result of changes in market competition and as the deterioration in business conditions has accelerated," said Mochida.

The venture is expected to post an operating loss of 30 billion yen on revenue of 270 billion yen for fiscal year 2008.

Toshiba aims to overhaul the loss-making business by shifting focus to polycrystalline silicon panels that provide better quality images for high-end products, the company official said.

(c) 2009 AFP

Explore further: Mexico City proposes regulations for Uber

Related Stories

Toshiba, Sharp mull 'solar power tie-up'

Mar 27, 2009

Japanese consumer electronics giants Toshiba and Sharp are in talks on a possible tie-up in the solar power generation field, the companies said Friday.

Hitachi, Toshiba and Matsushita Join for TV LCD Panels

Aug 31, 2004

Hitachi, Ltd., ("Hitachi"), Toshiba Corporation ("Toshiba") and Matsushita Electric Industrial Co., Ltd., ("Matsushita") today reached a basic agreement to jointly establish a company (the "JV") to manufacture and sell LC ...

Sony to establish ST Mobile Display Corporation

Mar 31, 2005

Second Manufacturing Base for Low-Temperature Polysilicon TFT LCD Panels for Mobile Products Sony Corporation today announced the establishment of "ST Mobile Display Corporation". This follows Sony's purchase of the LCD p ...

Recommended for you

Mexico City proposes regulations for Uber

21 hours ago

Mexico City is proposing regulations that would allow Uber and other smartphone-based ride-sharing apps to operate, while requiring drivers and cars to be registered, the city's Office of Legal and Legislative Studies said ...

Shyp reclassifies contract couriers as employees

Jul 03, 2015

Shyp, the quickly growing startup that provides on-demand courier services, said Wednesday it would reclassify its contract workers as employees, becoming the latest high-profile tech company to change how it compensates ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.