Lite-On and Philips form world's second largest optical drive manufacturing company
This week Lite-On IT Corporation and Royal Philips
Electronics announced that the joint venture between the two companies will officially
take shape on May 1 of this year. The joint venture between the two
companies will focus on the manufacturing and marketing of optical storage
drives.
The move between Lite-On and Philips is one that industry analysts have been
expecting to happen for about a year now. Last April, Lite-On took
over BenQ's optical disc drive manufacturing operations. At the time,
Lite-On and BenQ were partners in the optical drives business but the takeover
placed Lite-On up to the number two spot in the list of biggest drive
manufacturers in the world. According to the release:
PLDS will be effective in Europe from 1st of
May 2007. Lite-On IT BV, the European head office of Lite-On IT Corporation,
will continue to provide the same service to its customers under the new flag
of PLDS. The company will handle sales, marketing, service, finance and
logistics of Optical Disc Drives (ODD). PLDS will continue to sell ODD under
the brand names Lite-On and HP (under exclusive license from Hewlett-Packard).
Under the new agreement between Lite-On and Philips, the new venture will be
called Philips & Lite-On Digital Solutions (PLDS). The European Commission
has fully approved of the new venture as of April 2.
"We are going to continue to work with them to make sure they understand the reality of the Internet. A lot of these people don't have Ph.Ds, and they don't have a degree in computer science." -- RIM co-CEO Michael Lazaridis
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