SAN JOSE, Calif. Japan's Sony Corp. and Toyota Industries Corp. have consolidated their two LCD joint ventures in an effort to cut costs.
The firms announced an agreement to integrate management of their ST Liquid Crystal Display Corp. (STLCD) and ST Mobile Display Corp. (STMD) joint ventures.
Sony and Toyota will establish a new LCD company effective Dec. 1. When the new company is established, Sony's share will be 86 percent and Toyota Industries 14 percent.
STLCD and STMD currently manufacture low-temperature polysilicon thin film transistor liquid crystal displays for mobile products.
Sony and Toyota Industries established STLCD in October 1997, combining each company's respective strengths in the production of LTPS-TFT-LCD panels. Responding to additional increases in demand, Sony and Toyota Industries established STMD in March 2005.
''With this management integration, the companies will unify manufacturing functions, and facilitate more efficient and responsive management operations with the aim of reinforcing business competitiveness,'' according to the companies.