The three giants that are Sony, Hitachi, and Toshiba, have joined with Innovation Network Corporation of Japan to create Japan Display Inc. The new group will focus on the small and medium sized display business, with the hopes of competing with/destroying their South Korean Rivals, Samsung and LG.
Each of the companies will hold a 10% stake, with Innovation Network Corporation of Japan holding the other 70%. The deal came about due to each of the three companies wanting to revive their display divisions, hoping that they will be able to provide display components to the various smartphone and tablet OEM’s worldwide.
This deal is not related to any of the company’s television divisions. Only the smaller and medium sized displays will be affected, and the competition with other display manufacturers will hopefully benefit the consumer.