Saturday, September 3, 2011

UPDATE 3-Japan backs Sony, Toshiba, Hitachi LCD merger

This is a particularly interesting move, since Sony used to be like Apple... Set a unique format, and don't share it w/ anyone.

By Mayumi Negishi
TOKYO, Aug 31 (Reuters) - Japan's Sony Corp , Toshiba Corp and Hitachi Ltd will merge their liquid-crystal display operations using $2.6 billion of government-backed funds to fend off growing competition from rivals in South Korea and Taiwan.
The merged entity will be the world's largest maker of small panels used in smartphones and tablet PCs, leapfrogging leaders Sharp Corp of Japan and Samsung Electronics of South Korea and keeping at bay the likes of Taiwan's AU Optronics .
Sony, Toshiba and Hitachi were all making losses on small panels until last year so the merger will allow them to focus on their main operations. 
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