Matsushita, Canon Set to Take Hitachi Stake
In a move that has a chance to alter the HDTV pecking order, Hitachi is reportedly on the verge of selling a stake in its flat-panel-display unit to Matsushita (owner of Panasonic) and Canon. The Wall Street Journal reported Thursday that talks were “in the final stages.”
The stake changing hands is reportedly worth $2.65 billion, the Journal said.
The companies’ rationale for the moves are manifold. Hitachi and Matsushita are attempting to compete with Sony and boost profits, while Canon wishes to use the newest LCD technologies in its cameras.