Connect with us

Hi, what are you looking for?

New Products

Toshiba and Panasonic Agree on LCD Joint Venture Transfer

Toshiba to Acquire All of Panasonic’s Shares in Toshiba Matsushita Display Technology Co., Ltd.

Toshiba Corporation (TOKYO:6502)(“Toshiba”) and Panasonic Corporation (NYSE:PC)(TOKYO:6752)(“Panasonic”) announced that today the two companies have signed a share transfer agreement under which Toshiba will acquire all of Panasonic’s shares in Toshiba Matsushita Display Technology Co., Ltd. (TMD), a joint venture that develops, manufactures and sells liquid crystal displays (LCDs) and organic light emitting displays (OLEDs). The share transfer is scheduled to take place on April 28.

After completion of the share transfer transaction, TMD will become a wholly-owned subsidiary of Toshiba Group, and will change its name to “Toshiba Mobile Display Co., Ltd.”

Established in 2002, TMD is an industry leader in small- and medium-sized LCDs for application in such products as mobile phones, portable PCs and in-vehicle displays. However, the company is now facing a very tough business environment: weak demand that is sharply down from last year, and continuous price erosion in small- and medium-sized LCD panels. In these circumstances, and as part of the Action Programs to improve profitability announced by Toshiba this January, TMD is now implementing restructuring initiatives in its LCD business, including closing certain manufacturing lines.

Acquiring Panasonic’s stake in TMD will allow Toshiba to further accelerate decision-making and promote comprehensive restructuring of TMD’s business.

Looking to the future, TMD aims to establish OLEDs as an engine for growth and to enhance its display business in the medium- to long-term.

About Toshiba Matsushita Display Technology Co., Ltd.

  • Established: April 1, 2002
  • Capital: 10 billion yen
  • Ownership: Toshiba 60%; Panasonic 40%
  • President and Chief Executive Officer: Yoshio Ooida
  • Headquarters: Reverge Shinagawa, 4-1-8 Konan, Minato-ku, Tokyo
  • No. of Employees: Approximately 2,700 (as of March 2009)
  • Business: Development, production and sales of small- and medium-sized LCDs and OLEDs

Advertisement. Scroll to continue reading.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Latest Products

Eversolo DMP-A10 Music Streamer Front Angle

New Products

At $3,680, the Eversolo DMP-A10 music streamer packs in so much it just may be the Swiss Army Knife of network streamers.

Shanling SM1.3 Network Music Streamer White and Black Shanling SM1.3 Network Music Streamer White and Black

Digital Music Systems

For $1199, the Shanling SM1.3 music streamer comes loaded with features including MQA, DSD512 and up to 32-bit/768kHz hi-res audio.

Feliks Audio Envy Meisterwerk Vacuum Tube Headphone Amplifier Front Angle in Ebony finish Feliks Audio Envy Meisterwerk Vacuum Tube Headphone Amplifier Front Angle in Ebony finish

Headphone Amps

Priced from $10,000, the Feliks Audio Envy Meisterwerk headphone amplifier features all analog circuitry with 300B vacuum tubes.

Audio-Technica ATH-ADX3000 Open-back Headphones Audio-Technica ATH-ADX3000 Open-back Headphones

New Products

At $999, the Audio-Technica AT-ADX3000 open-back headphones use the same driver technology as its flagship AT-ADX5000.

TEAC HA-507 Analog Headphone Amplifier/Preamp Front Top Silver TEAC HA-507 Analog Headphone Amplifier/Preamp Front Top Silver

Headphone Amps

At $1,999, the Technics HA-507 is a pure analog headphone amplifier and preamplifier with a balanced/dual mono configuration.

Ruark Audio R-CD100 CD Transport atop R410 Music System Ruark Audio R-CD100 CD Transport atop R410 Music System

CD Players

Add CD playback to the Ruark R410, R610 and R810 music systems for only $350 with the new R-CD100 CD Transport.

Gift Ideas?

Splurge Gift Guide for Hi-Fi Audio and Home Theater during Holiday 2024

Gift Guides

Share the love of music and movies with hi-fi audio and home theater gift ideas that are guaranteed to impress.

You May Also Like

Advertisement

ecoustics is a hi-fi and music magazine offering product reviews, podcasts, news and advice for aspiring audiophiles, home theater enthusiasts and headphone hipsters. Read more

Copyright © 1999-2024 ecoustics | Disclaimer: We may earn a commission when you buy through links on our site.



SVS Bluesound PSB Speakers NAD Cambridge Audio Q Acoustics Denon Marantz Focal Naim Audio RSL Speakers