To help drive continued advancement in LCD technology (which should also result in lower costs), Panasonic and Canon will each be taking 24.9% ownership of Hitachi Displays.
Hitachi has been losing money on large displays while Panasonic wants a quick way to get into the large LCD panel market (currently their largest non-projection LCD TV is 32″), while Canon wants in on Hitachi’s smaller LCD’s and to accelerate OLED development.
If you’re a plasma TV fan, don’t worry–Panasonic and Hitachi aren’t giving up on plasma technology. They’re just responding to the market wanting inexpensive LCD displays and no doubt want a piece of Sharp and Toshiba teaming up against Samsung.
[Via Engadget]
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