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CE Giants Team Up To Product LCDs

8/31/2004 01:30:00 PM Eastern

Tokyo — Hitachi, Matsushita and Toshiba have inked a deal that will have the three CE giants form a jointly owned company that will construct and sell LCDs in Japan.

The new enterprise, which has not been named, is expected to commence operations in January 2005 with flat-panel production beginning in March 2007, according to a release issued by the three companies. Manufacturing capacity is expected to reach the equivalent of producing 2.5 million 32-inch LCD TVs by the second half of 2008.

Hitachi displays will own 50 percent of the new company with Toshiba and Matsushita splitting the remaining half more or less evenly. The management was not announced, but the facility will be located in Mobara, Chiba Prefecture, Japan.