No longer a rumor, Hitachi, Matsushita (Panasonic) and Canon are joining forces to shake up the LCD biz. Panasonic and Canon have each agreed to take 24.9% ownership of Hitachi Displays, which will use the investment to continue its advancement in LCD technology. Canon gets access to Hitachi's small- to medium-sized LCDs and, OLEDs for its cameras and other products, while Panasonic looks to "enhance the competitive edge in-step with PDP models" of its Viera line of HDTVs with Hitachi's IPS (In-Plane Switching) technology and future OLED production. Don't think Panasonic and Hitachi are giving up on the Plasma Coalition, but they aren't afraid to hedge their bets in reaction to the market's demand for cheap LCDs and similar partnerships among competitors.

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Panasonic, Hitachi and Canon make billion-dollar LCD deal official