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Sanyo Electric, Quanta Computer to form JV flat panel TV company

Posted: 06 Apr 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Sanyo Electric? Quanta Computer? joint venture? flat panel TV?

Sanyo Electric Co. Ltd and Quanta Computer Inc. have agreed to form a joint venture company for the flat panel TV business. The new company will manufacture and sell flat panel TVs for the Sanyo brand, and will continue to expand upon Quanta's FP-TV ODM business. According to the press release, the joint venture company targets for a material worldwide share in the flat panel TV industry in the foreseeable future.

The new joint venture will leverage the strengths of both companies. It will succeed Sanyo's R&D teams and manufacturing sites as well as maintain access to Sanyo's global sales and service network. It will also continue to take full advantage of Quanta's efficient manufacturing base in China, and its well-developed and integrated supply chain. In addition, the new joint venture will benefit from increased economies of scale, standardized product platforms and shared know-how from both companies. As a result, said the two companies, the new entity will be optimally positioned to supply high-quality products at competitive prices to TV vendors and consumers worldwide. Final ownership structure of the new company will be determined after completion of due diligence.

Sanyo President Toshimasa Iue said in a press statement that they have outlined a major realignment of their TV business, within their structural reform and mid-term business plan. "By combining Quanta's strengths with Sanyo's capabilities in the TV business, I'm confident as we conclude this principle agreement that we will produce added value for our stakeholders," Iue said.

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