Pioneer will buy NEC's plasma display panel operations, according to the two Japanese electronics companies. NEC will continue to distribute plasma displays as usual under the NEC brand, such as the recently released line of 42-inch, 50-inch and 61-inch HDTV plasma displays.
Under the agreement, Pioneer will acquire all shares in NEC Plasma Display Corp., an NEC subsidiary, and all intellectual property rights NEC holds related to plasma display panels.
The combined operations are geared for greater economies of scale, reduced cost of parts and materials, enhanced production efficiencies and quick access to increased production capacity. The acquisition of NEC is an opportunity to strengthen market position by expanding product offerings and nearly doubling total capacity of plasma displays to meet growing global demand.
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