Sharp and Pioneer team up
20 Sep 2007 17:00Sharp is to take a 14 per cent stake in Pioneer by buying 30 million shares, becoming the Tokyo-based manufacturer's biggest shareholder.
The aim of the tie-up is to strengthen the visual and network products businesses of both companies by bringing together their technological skills.
Sharp is one of the world's leading manufacturers of liquid crystal display (LCD) televisions while Pioneer has led the way in producing plasma televisions, audio equipment and car electronics.
Sharp said the market for consumer electronics has become increasingly competitive as a result of advanced digitisation, which strengthens the need for increased investment.
"Trying to cover all the technologies needed on our own at this time when competition is so severe would call for massive amounts of time, personnel and funds," Sharp president Mikio Katayama said.
Meanwhile Sharp has announced that it is to open an LCD TV plant in Poland in a bid to meet growing consumer demand in Europe.
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