Koninklijke Philips Electronics NV said Thursday that it has reached an agreement to purchase from Hosiden Corp. the remaining 20 percent of shares it does not already own in a flat-panel display manufacturing venture in Japan.
To reflect the new ownership of the company, the Hosiden and Philips Display Corp. will from Thursday be called Philips Components Kobe K.K., the Dutch electronics maker said in a statement.
Financial details of the agreement were not disclosed.
Formed in 1997 as a 50-50 joint venture between Philips and Osaka-based Hosiden, the company mainly manufactures 15-inch active-matrix LCDs (liquid crystal displays). In 1998, Philips upped its stake in the company to 80 percent.
Demand for active-matrix LCD screens is soaring. Increasingly, high-end notebook PCs are equipped with 15-inch screens, which also are common in flat-panel desktop monitors.
Philips, in Eindhoven, the Netherlands, can be reached at +31-40-27-369-29, or via the Web at http://www.philips.com/.