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By: Richard Del Cazzo
Web site: http://www.hdtv-hdtv.com
Seiko Epson Corporation ("Epson") and SANYO Electric
Co., Ltd. ("SANYO") today announced that they would
merge their (LCD) liquid crystal display businesses to form
a new company. The new company will be known as SANYO EPSON
IMAGING DEVICES CORPORATION and is planned to begin operations
in October 2004. Epson will hold 55% of the joint venture,
and SANYO 45%.
SANYO EPSON IMAGING DEVICES CORPORATION will combine the
various liquid crystal display businesses of Epson, SANYO,
Tottori SANYO Electric Co., Ltd. ("Tottori SANYO"),
and SANYO LCD Engineering Co., Ltd. ("SANYO LCD Engineering").
The new entity will aim to become a leading manufacturer of
small and medium-sized LCDs for mobile phones, digital cameras,
and for use in automobiles.
In recent years, the market for color liquid crystal display
(LCDs) has expanded rapidly from PC monitors to new applications
such as liquid crystal display (LCD) TVs, mobile phones, digital
cameras, and for use in automobiles. The ensuing entry of
a large number of manufacturers to the market has resulted
in intense price competition. Pressed by the need to develop
new products in short cycles and panels with ever-higher performance,
manufacturers are faced with massive demands for investment
in research and development and manufacturing facilities.
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