Sony, Toshiba and Hitachi have officially formed a new display manufacturing joint venture. The new partnership is called Japan Display and is 70 % owned by the Japanese government. Say hello to the world's largest manufacturer of small-to-medium size screens. Japan Display also buys Panasonic's closed LCD-TV factory.
Sony, Toshiba & Hitachi form Japan Display
The three Japanese electronics giants, Sony, Toshiba and Hitachi already confirmed in September that they were planning to create a powerful alliance that aims to produce displays for handheld devices such as smartphones and tablets. The joint venture has now been officially signed.
Japan Display plans to make OLED panels in the future
The new company is called Japan Display Inc. and the Japanese government has agreed to invest billions and become the largest shareholder with 70 % of the shares. The alliance hopes to compete with the South Korean competitors such as Samsung and LG due to their growing dominance in the display area. By combining the three manufacturers' current LCD plants, and by adding new factories, Japan Display will become the world's largest manufacturer of small-to-medium size LCD panels with expected revenue of 750 billion Yen in 2016.
Buys Panasonic factory, to research OLED
Panasonic has just closed 2 TV factories; one being a LCD-TV factory. Japan Display announces that they have acquired Panasonicâ€™s LCD-TV factory. The buying price has not been disclosed.
The new company will focus on R&D in areas such as OLED and high resolution displays. No words on displays for TV screen at this point.