The Dutch electronic giant Philips has send us a press release announcing that they will form a joint venture with the Taiwanese company Benq to to cooperate in the areas of new optical standards, research, and particularly in the definition of product roadmaps, product development, manufacturing of products, and customer support of optical storage devices for data applications.
Commenting on the deal, Mr. Arthur van der Poel, member of Philips' Board of Management added, 'This joint venture concludes the series of measures taken to bring Optical Storage back to profitability and will position us well for continued participation in the data segment in a profitable way. The joint venture builds on a long-standing relationship between Philips and BenQ. The cooperation in the new company will further strengthen the successful DVD+RW platform". |
K.Y. Lee, Chairman and CEO of BenQ Corporation, stated 'Philips is renowned for its research and intellectual property portfolio while BenQ is strong in development, manufacturing and marketing. The new company will prove to be a strong force in the optical storage industry, combining strengths in research, cost effective manufacturing, and fast time-to-market."
With Philips for research and licensor of the DVD+R(W) format and Benq able to produce relativly cheap in Taiwan, this joint venture is likely to have a bright future.
Source: Philips News
