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Matsushita, Canon, Hitachi announce tie-up in LCD business
Published in Saudi Press Agency on 25 - 12 - 2007


Matsushita, Hitachi and Canon announced
Tuesday a tie-up in their liquid crystal display
businesses, the latest collaboration in the increasingly
competitive flat-panel industry, reported ap.
The three companies announced the plan in a joint
statement. Officials said a press conference will be held
later in the day.
Their collaboration creates a third major force in the
flat-panel industry in Japan along with the Sony's alliance
with South Korea's Samsung Electronics and the Sharp and
Toshiba team, which was announced last week.
«Under this alliance, the three companies will merge
their strengths to accelerate the development of
cutting-edge display technologies and expand their scope of
application,» the statement said.
The alliance is expected to help Hitachi restructure its
sprawling portfolio of subsidiary companies and enable
Matsushita and Canon to raise their profile in the LCD
sector.
Hitachi Ltd. will reduce its interest in wholly owned
subsidiary Hitachi Displays Ltd. to slightly more than 50
percent. The unit has been posting losses.
The remaining shares will be divided equally between
Matsushita and Canon by March 31, 2008, according to the
statement.
Canon may eventually take over a majority stake in Hitachi
Displays, it said.
Hitachi Displays makes small and mid-sized LCD panels and
the tie-up will allow Canon to procure a steady supply of
monitors for digital cameras.
Canon Inc. also plans to further promote development of
organic light-emitting diode panels, or OLEDs, with
Hitachi, the statement said.
Matsushita said it will increase its involvement in IPS
Alpha Technology, a joint venture between the three
companies and Toshiba.
Press reports said Toshiba, which on Friday signed an
agreement to buy large quantities of LCD panels from Sharp,
is expected to sell its stake to Matsushita Electric
Industrial Co.
Matsushita plans a next-generation plant at IPS Alpha to
ensure a stable supply of LCDs and may use the new plant as
a possible future base for production of OLED displays,
according to the statement.
«I think the three companies have considerable potential
in the OLED business,» said Hideki Watanabe, an analyst
with Shiko Securities. «They have the basic technology.»
However, he questioned Matsushita's plan to get involved
in large-size displays, saying the company is behind
competitors such as Sharp.
Matsushita also said it will expand and strengthen its
mainline plasma display panels operations.
Next-generation technologies like OLED panels, which use
light-emitting diodes based on electroluminescent organic
materials, could help manufacturers boost both prices and
sales, analysts say.
OLEDs are generally still considered too expensive for
commercial products, and opinion is divided in the industry
on which panel technology, if any, will become the standard
for thin TVs. Sony is the only electronics maker that has a
small TV on sale with an OLED screen.
Hitachi shares added 3.85 percent to 836 yen (US$7.33)
after the announcement, while Matsushita stock rose 1.08
percent to 2,325 yen (US$20.38). Canon finished unchanged
at 5,240 yen (US$45.94).


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