KRONACH, Germany -- German consumer electronics company Loewe Opta GmbH, has announced plans to further expand a collaboration agreement with Japanese liquid crystal display (LCD) maker, Sharp Corporation for the development and supply of LCD TVs to the European market.
The companies have already been sharing information of European broadcasting technology and marketing and now plan to further extend their agreement by developing products for the thin-profile, flat TV market.
Through the companies' strategy to combine Sharp's expertise in CD display and LCD TV development with Loewe's home cinema and multimedia solutions, they aim to boost competitiveness within the European market through shortening time to market for new products.
"We decided to strengthen ties with Loewe because it provides consumers with high-picture quality TVs," said Toshishige Hamano, corporate senior executive director at Sharp.
Under the terms of the agreement, the companies will jointly develop next generation LCD TVs and supply LCD TV modules with plans to introduce new models into Europe by 2004.
Loewe and Sharp also plan to introduce high-end platforms that correspond to European digital broadcasts. Based on the joint development, both companies intend to develop next-generation large-screen digital LCD TVs, and sell these under their own brand name by 2005.
Sharp said it will supply a large-screen LCD TV module and start with 30-inch and-larger wide-format LCD TV modules for Loewe, which will become the main model in the European market.
Production will take place at Sharp Espana (Spain) in Barcelona and the sets will be marketed under the Loewe brand.