Sanyo and Quanta announced on August 11 that they will still set up a joint venture in October 2006 but will not include LCD TV manufacturing business as originally planned, about which Asia Express reported on March 17. Sanyo will spin off its LCD TV development and component procurement businesses to form a new company, named Sanyo Visual Technology, in which Quanta will have a 19%. Sanyo and Quanta have claimed that they will continue talks about the possible cooperation for LCD TV manufacturing, which is slated to be finalized in July 2007.