Sony, Toshiba and Hitachi have formed a joint-venture with the aim of merging their small screen LCD screen output. The deal embraces the companies’ smart phone and tablet-based screen production.  The proposal was first outlined by the trio back in August.

The outcome will be Japan Display, which hopes to be in business by Spring next year. The restructuring will include fresh financing from Innovation Network Corp of Japan (INCJ), a private-public investment fund designed to support next-generation projects. INCJ will own 70 per cent of the new business with 10 per cent held by each of the three major brands.

It is likely that Japan Display will quickly achieve market leadership, outselling Sharp as well as Samsung in units produced.

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