Hitachi, Canon, Matsushita confirm LCD tie up

DESPITE A COY attempt at a denial in the run up to Yuletide, Japanese giants Matsushita, Canon and Hitachi have, after all, struck an alliance in the LCD market.

The firms said yesterday they will work together to establish a consortium, with Hitachi divesting shares in its display business and divvying them out between Canon and Matsushita, which trades as Panasonic.

Samsung already has a joint venture with Sony, while Sharp and Toshiba said last week they are cosying together.

If there was a rash of further “cooperation” in the face of an increasingly hectic LCD monitor and LCD TV matter, no one would be shocked. Or even surprised. µ