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Hitachi selling stakes in its LCD business

26 December 2007 16:22 by Andre "DVDBack23" Yoskowitz | 1 comment

Hitachi has officially confirmed reports that it will be selling stakes in its LCD business to both Canon and Matsushita, meaning each firm will have almost a 25 percent shareholder stake in the company.

The company cited "intensifying competition" in the LCD field for the move. Now, with the new capital, the company plans to refine its In-Plane Switching (IPS) technology for LCDs and improve its resulting Woo HDTV line.

According to Hitachi, Canon and Matsushita plan to use the stakes differently. Canon "intends to focus on small LCDs for its digital SLR cameras and other portable devices but will also work with Hitachi to develop ultra-thin OLED screens as well." Matsushita will continue to produce TVs under its Panasonic brand and the company "claims the deal will keep the technology of its LCD HDTVs advancing at the same pace as the plasma sets that form the backbone of its TV business."

The deal should be financially completed by the end of March.

Source:
Electronista

Permalink to this article

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Discuss this article!
borhan9 (AfterDawn Addict) 29 December 2007 17:45
Every time i hear news about companies merging i am glad it is happening because they learn to work together and make profits for each other and this brings the profit margin to more of a reasonable level. [ + quote]