Japanese Sanyo and Taiwanese Quanta announced on March 17 that they have reached an agreement on setting up a flat-panel TV joint venture. According to the agreement, the joint venture will manufacture and sell Sanyo's flat-panel TVs while offering ODM services for other vendors. The two companies stated that the joint venture will leverage Sanyo's R&D resources and worldwide sales networks and Quanta's production capabilities. Further details about the joint venture were not immediately known.