Toshiba and Samsung Announce Details of Integration of Optical Disk Businesses Jan 20, 2004

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Toshiba Corporation and Samsung Electronics Co., Ltd., both based in Japan, revealed the details of their new joint venture for optical-disk drives (ODD), as initially announced in a memorandum of terms announced on Sept. 22, 2003.

The new joint venture, Toshiba Samsung Storage Technology Corporation, will start operation on April 1, 2004. The company will integrate product and business planning, product development, procurement and sales and marketing of ODDs, including CD-ROM and DVD-ROM drives. Toshiba Samsung Storage Technology Corporation will be headquartered in Japan with a wholly owned subsidiary in Korea.

The new joint venture will construct a competitive business structure that promotes optimized use of management resources and leadership in the global market.

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