Hitachi, Canon extend LCD panel joint venture

The two companies announced that they will maintain their existing relationship in the joint venture, Hitachi Displays Ltd, which develops and churns out small- and medium-sized LCD panels. Canon has a 24.9 percent stake in Hitachi Displays.

Canon had announced when the company was formed in 2008 that it plans to eventually turn Hitachi Displays into a subsidiary. Under the latest agreement, a new business alliance will be formed while maintaining their existing capital ties.

Under their latest agreement, Hitachi Displays and Canon will deepen cooperation on high-performance, high-resolution LCD displays for various equipment, such as smartphones and tablet PCs, as well as develop cutting-edge flat-panel displays to keep up with market trends.