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Toshiba to buy Panasonic's shares in LCD joint venture

Darren Murph
04.01.09
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Around seven years after it was originally established, Toshiba has decided it best to stop waiting for Panasonic's input on decisions regarding Toshiba Matsushita Display Technology Company. If all goes to plan, Toshiba -- which currently owns a 60 percent stake in the joint venture -- will buy out Panasonic's 40 percent stake on April 28th. For those unaware, the venture was responsible for developing, manufacturing and selling LCDs and OLEDs, most of which were classified as "small to medium-sized." After the share transfer is finalized, TMD will change its name to Toshiba Mobile Display Company, and according to the jointly-issued release, it'll allow Tosh to "further accelerate decision-making and promote comprehensive restructuring of TMD's business." The consumer takeaway here? "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." Boom.

[Via Wall Street Journal]

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