JVC, Funai Form LCD TV Partnership
February 01, 2008
Japanese consumer electronics suppliers JVC and Funai Electric announced on January 30 that they have signed a cooperation agreement, whereby both parties will jointly supply and develop LCD (Liquid Crystal Display) TV in a bid to achieve better cost competitiveness.
Pursuant to the agreement, JVC's LCD TVs manufactured in Mexico will be delivered to Funai and sold under the brand name of Funai in North America starting in February 2008. In return, JVC agreed to sell Funai's LCD TVs manufactured in Poland under JVC's brand in the European market beginning in summer 2008.
According to Jiji Press, JVC is expected to provide 37-inch TVs to Funai, with an annual shipment volume of 200,000 units, while Fuani will provide small- and medium-sized TVs to JVC, with an annual shipment volume of 300,000 units. Both companies also stated that they plan to jointly develop an LCD TV, which is slated for commercialization in 2009, Reuters reported.
In related news, JVC and Japanese high-tech company Kenwood - which acquired a 30% stake in JVC in August 200 - are entering the final stage to form a holding company, so as to implement business integration, according to Jiji Press.