Taiwanese Lite-On Mobile recently announced that the company will form JV with Taiwan-based touch panel maker Young Fast Optoelectronics through its wholly-owned subsidiary Perlos, in a bid to deepen their market presence and tap the burgeoning demand for mobile phone touch panels, according to the press release by Lite-On Mobile. Pursuant to the agreement, the new JV - slated to begin operations in the fourth quarter of 2010 - will dedicate to the development of touch panel models for use in mobile phones, with Lite-On Mobile holding 65% stake in JV and Young Fast taking up the remaining 35%, according to the same source. In addition, the JV also plans to build a new facility in Huizhou, Guangdong Province. Through the JV, Lite-On will consolidate touch modules into its product and service portfolios other than existing core offerings while Young Fast is allowed to access Lite-On's customer base such as Nokia.