Toshiba set to buy Panasonic's part of LCD joint venture

It seems Toshiba no longer wants to be in business with Panasonic. At least, that's what the company's latest effort to buy Panasonic's stake in a LCD joint venture appears to allude to.

As of this moment, Panasonic owns 40% of the LCD venture called Toshiba Matsushita Display Technology. This venture produces small LCD screens for use in mobile devices. However, since product prices keep dropping, the loss for the fiscal year is estimated to be around the equivalent of $309.6 million.

Since Panasonic now wants to focus on their larger LCD screens and plasma displays, they are looking to sell off their portion of the venture. It may also be that Panasonic doesn't think OLED is the future, which Toshiba is actively pursuing. Toshiba expects a loss as well, but they will be buying the hard drive portion of Fujitsu and as creating a lithium-ion battery business.

[via TechRadar UK]