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Toshiba sees bright future in Guangdong
By Joyce Pan |
August 6, 2009, Thursday
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Print Edition
Print Edition
TOSHIBA Corp yesterday said it would set up a joint venture in south China's Guangdong Province with a Chinese liquid crystal display maker to tap into growing demand for mobile phone displays.
The new venture has a registered capital of US$100 million.
Toshiba Mobile Display, the LCD unit of Toshiba, will hold a 19.9 percent stake in the venture, Guangdong-based Greentech Group will take 58 percent and a Hong Kong investment fund will take the balance, TMD said in a statement on its Website.
TMD, whose displays are used in cell phones, car-navigation systems and laptops, will inject into the venture equipment from amorphous silicon LCD lines in Japan.
TMD closed these lines in March.
The Guangdong venture will start manufacturing in the first half of 2010. Greentech, established in 1993, mainly produces LCD televisions, plasma display panel TVs and thin-film transistor LCDs.
It also imports equipment from Japan, Europe and the United States.
Shipments of small and medium LCDs, which are mainly used in cell-phone displays, are expected to jump more than 10 percent annually to reach 1.4 billion units in 2011 due to the fast-growing mobile market, according to CCID Consulting.
The China move is part of Toshiba's plan to offload equipment after its LCD unit reported an operating loss of 36.2 billion yen (US$380.49 million) in the fiscal year ending in March.
Toshiba, which bought out Panasonic Corp's 40 percent stake in TMD in April, was quoted by Reuters as saying it plans to cut 25 percent of fixed costs in its LCD operations this year.
Meanwhile, TMD is largely shifting its focus to high-resolution displays using low-temperature polysilicon and organic light-emitting diode technology in its home market.
The new venture has a registered capital of US$100 million.
Toshiba Mobile Display, the LCD unit of Toshiba, will hold a 19.9 percent stake in the venture, Guangdong-based Greentech Group will take 58 percent and a Hong Kong investment fund will take the balance, TMD said in a statement on its Website.
TMD, whose displays are used in cell phones, car-navigation systems and laptops, will inject into the venture equipment from amorphous silicon LCD lines in Japan.
TMD closed these lines in March.
The Guangdong venture will start manufacturing in the first half of 2010. Greentech, established in 1993, mainly produces LCD televisions, plasma display panel TVs and thin-film transistor LCDs.
It also imports equipment from Japan, Europe and the United States.
Shipments of small and medium LCDs, which are mainly used in cell-phone displays, are expected to jump more than 10 percent annually to reach 1.4 billion units in 2011 due to the fast-growing mobile market, according to CCID Consulting.
The China move is part of Toshiba's plan to offload equipment after its LCD unit reported an operating loss of 36.2 billion yen (US$380.49 million) in the fiscal year ending in March.
Toshiba, which bought out Panasonic Corp's 40 percent stake in TMD in April, was quoted by Reuters as saying it plans to cut 25 percent of fixed costs in its LCD operations this year.
Meanwhile, TMD is largely shifting its focus to high-resolution displays using low-temperature polysilicon and organic light-emitting diode technology in its home market.
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