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Matsushita Buys Toshiba's Portion of Joint Cathode Ray Venture Apr 12, 2007 |
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According to MarketWatch, while
the making and selling of cathode ray tube displays began as a joint
venture between Matsushita Electric industrial Co. and Toshiba Corp.,
Matsushita has bought Toshiba's portion of the project.
Matsushita bought Toshiba's 35.5 percent of Matsushita Toshiba Picture Display
Co. last week, and the company changed its name to MT Picture
Display Co., MarketWatch reports. The value of the transaction was not made public.
With more consumers buying flat panel televisions, demand for CRT TVs
has decreased in many parts of the world. Matsushita claims that the
company will focus on selling these products in Central and South
America and India where they are still in high demand, says MarketWatch.