Japan’s Sony, Toshiba, and Hitachi Ltd. will all merge together their liquid-crystal display ops with help from the government’s $2.6 billion fund, ultimately putting them more in the running with fellow rivals like Samsung in South Korea and Taiwan.
DisplaySearch estimated Sony, Toshiba, and Hitachi contributed a collective 21.5% market share for small and medium sized displays last year, but all three companies ultimately reported losses in that year, so converging will help focus the companies’ main aims, and hopefully increase their market share.
By spring of 2012 the merge is said to be completed, taking a new name of Japan Display.
“The decision reflects a growing sense of crisis in Japan in light of its falling market share in the global chip and display markets,” said a “John Doe” South Korean government official who wanted to remain unidentified.
It is unfortunate that Japan was struck with such a horrendous quake that has left its economy in distress, but according to the Economist, the value of the yen is hitting new highs and the country is well on its way to recovery in given time.
(via Huff Post Tech; photo via SonyRumors.net)
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