Japanese companies Sony, Hitachi and Toshiba will start a new joint venture for manufacturing and developing LCD screens, at least the very small small ones used by smartphones and tablets. The Innovation Network Corporation of Japan will get a large portion of the shares of the new company.
The new company that still lacks a name will be one of the biggest ventures between no less than four companies. This is a result from the tougher competition from Samsung, Panasonic, Sharp and the major OEMs om China.
Sony, Hitachi and Toshiba will keep 10% each of the company, while Innovation Network Corporation of Japan will hold the remaining 70%. THe company is an upstart of the Japanese government to promote technology and innovation of the native companies, and are prepared to invest 2.6 billion dollar into the upstart. The new venture will make up 20% of the global market for smaller LCD screens, which will make it the largest globally.
Source: Yomiuri Shimbun via Techcrunch
