Tokyo — Days after announcing plans to sell a major stake in its plasma TV manufacturing operations, Fujitsu Ltd said it will withdraw from the LCD manufacturing business and sell its subsidiary to Sharp.
Fujitsu cited growing competition and lowering prices the LCD market in forcing its decision.
Fujitsu had primarily produced LCD displays for use in PC monitors.
Sharp is expected to take on Fujitsu's 450 employees, related intellectual property rights and a factory from the Fujitsu Display Technologies Corp. unit, the companies disclosed.
Final details of the transaction were still be worked out, but the deal is expected to be completed in March, the companies said. For other flat panel news: