NEC Electronics and Elpida Memory reached on June 20, 2008, a basic agreement on forming an 80-20 joint venture dedicated to the development, design, and sale of driver ICs for LCD (Liquid Crystal Display) and plasma display panels, according to a Jiji Press report. The signing of a formal agreement is slated for the end of September, while establishment of the venture is scheduled in December.

Furthermore, Nikkei reported that NEC plans to transfer its display IC business to the new venture. Also, the new venture is expected to source production to NEC Semiconductors Kansai which currently manufactures display driver ICs on a 200mm line for NEC, as well as Elpida's Hiroshima plant which boasts advanced microfabrication technology and a 300mm line.