A Japanese joint venture company making and selling LCD panels will open for business in January.
Set up by Hitachi, Hitachi Displays, Matsushita and Toshiba, the new company, PS Alpha Technology, will make LCD panels of 23 inches and above for flat-panel TV at a Hitachi Displays factory in Japan. Output will reach a maximum of 2.5 million 32-inch units a year from early 2009.
The announcement of the joint venture came a day after Matsushita and Toshiba said they were stopping production of large-screen cathode ray tubes at a joint venture plant in New York because of the availability of cheap CRTs from Asia and a shift in US tastes towards large, flat-panel plasma or LCD screens or sets based on rear-projection technology.
The New York factory plant made a net loss of $109m (£59m) last year and employs around 800 people.
Martyn Williams writes for IDG News Service