Joint venture for LCDs

By Richard Shim
Staff Writer, CNET News

Toshiba and Matsushita, known for its Panasonic brand, announced Friday they will establish a Singapore-based company to manufacture low-temperature polysilicon LCDs (liquid crystal displays). Production of the LCDs is scheduled to start in July 2002. Capacity is expected to reach 55,000 29-inch-by-36-inch panels per month by 2003. The panels will be used for mobile phones, handheld computers and flat-panel televisions.

Toshiba will invest 67 percent of the initial $431 million of capital needed to start the company; Matsushita will invest the remaining 33 percent.

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