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Print 8 comment(s) - last by DeepBlue1975.. on Feb 27 at 8:47 PM

Canon aims to make Hitachi Displays a Canon subsidiary

Hitachi announced today the company and long-time rival Canon have signed a formal contract to form a LCD business alliance. This agreement follows closely on the heels of a similar agreement between Hitachi and Matsushita Electric Industrial Co. who sells LCD TVs under the Panasonic name.

The terms of the agreement between Canon and Hitachi (PDF) detail Canon's position to take control of 24.9% of Hitachi Displays, Ltd. The portion of Hitachi will be transferred to Canon by March 31, 2008. The deal is still pending regulatory approval and if approved the purchase will cost Canon 43.2 billion yen or about $400 million USD.

The deal also buys Canon a 50% shareholders equity stake in IPS Alpha Technology. Canon also says that the next step in the agreement is to acquire the shares of Hitachi Displays Ltd. currently held by Hitachi and Matsushita. This second step in the agreement will make Hitachi Displays a Canon subsidiary. The deal does give Hitachi the option of holding up to 10% of the shares in Hitachi Displays.

DailyTech reported a few weeks ago that Hitachi had sold Matsushita 24.9% of Hitachi Displays Ltd. and a large stake in IPS Alpha Technology Ltd. DailyTech first reported on the multi-billion dollar talks to purchase portions of Hitachi in December of 2007.



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Hitachi makes TVs?
By daftrok on 2/27/2008 2:04:05 PM , Rating: 2
I honestly never seen a TV with the words Hitachi on it. I've seen Sharp, Samsung, Sony, Pioneer, Canon, Panasonic, Mitsubishi, Coby, Westinghouse, RCA, but never Hitachi.




RE: Hitachi makes TVs?
By napalmjack on 2/27/2008 2:24:15 PM , Rating: 2
Well, they do.


RE: Hitachi makes TVs?
By pauluskc on 2/27/2008 2:24:23 PM , Rating: 2
RE: Hitachi makes TVs?
By jconan on 2/27/2008 8:39:04 PM , Rating: 2
RE: Hitachi makes TVs?
By jconan on 2/27/2008 8:41:28 PM , Rating: 2
RE: Hitachi makes TVs?
By FITCamaro on 2/27/2008 2:30:11 PM , Rating: 1
Hitachi makes extremely good TVs. My parents have an older rear projection 57" HDTV from Hitachi. The picture is still excellent. I recommended my friend get a Hitachi over a Sony Bravia since the Hitachi had the same features and was cheaper. He gave in to brand names though and bought the Sony.


RE: Hitachi makes TVs?
By TheGovernment on 2/27/2008 7:34:53 PM , Rating: 2
haven't heard of ultravision? sweet jesus !!I have 3 of them in my house, a 51 inch crt, a 42 inch plasma, and a 42 inch lcd. They are freaking great! do you live under a rock?
Hitachi's are in the same ballpark as panny and samsung for tv's


RE: Hitachi makes TVs?
By DeepBlue1975 on 2/27/2008 8:47:59 PM , Rating: 2
Indeed.

Hitachi is a really old brand in the TV set business... I think the first time I've heard about Hitachi TVs was during the mid 80s, surely some years before 1990.
And that's just my personal experience, I guess they've been players in the TV market even longer than that.


"You can bet that Sony built a long-term business plan about being successful in Japan and that business plan is crumbling." -- Peter Moore, 24 hours before his Microsoft resignation














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