Thursday, February 24, 2005

Mitsubishi Sells Joint Venture with NEC

LCD manufacturer NEC-Mitsubishi will become a wholly owned subsidiary of NEC according to their press release.

The joint venture between NEC-Mitsubishi Electronics Display and NEC-Mitsubishi Electric Visual Systems Corporation were set up in January 2000. They will become a 100 per cent owned subsidiary of NEC Corporation on March 31 2005.

NEC will be eased of the pressure of selling only plasma displays. In the past, sales and marketing personnel of NEC have been defending plasma for public displays knowing that LCD is better for digital signage applications. This PDF speaks for itself of their previous problems with selling plasma while competing with their joint venture NEC-Mitsubishi.

“We are very proud of our accomplishments as NEC-Mitsubishi Electronics Display, and we are excited to be able to further leverage the strengths of NEC Corporation as we move forward,” said President and COO T.J. Trojan. “We firmly believe that the new ownership structure will provide many new opportunities for future growth through the access of new products and services and the simplification of our go-to-market strategies.”

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