Hitachi Ltd., Matsushita Electric Industrial Co. and Toshiba Corp. will set up a 70 billion yen joint venture in January to manufacture liquid crystal display panels for flat TVs, the firms said Tuesday.
Rivals such as Sharp Corp. and South Korean makers have already cranked up production to grab a larger share of the rapidly growing market.
The three companies said the joint venture is aimed at securing a steady supply of LCD panels.
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