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Hitachi unsurprisingly looks to sell stake in CRT operations

by Darren Murph posted Nov 28th 2007 at 3:28PM


Not even a month after Hitachi announced that it would be axing production and sales of RPTVs in North America, the firm has followed up by stating its intentions to sell its entire stake in a Chinese joint venture that produces CRTs. More specifically, the firm will offload its 25-percent stake in Shenzhen SEG Hitachi Color Display Devices to a local investor for 175 million yuan, or around $24 million. Reportedly, the company will be focusing the newly-freed resources on "growth areas such as plasmas," but that doesn't exactly jive with Hitachi's previous viewpoints on the generally shaky PDP market. Nevertheless, we can't say that we're shocked to hear of this exit, but so long as we're headed onwards and upwards, you won't find us tearing up over the loss.

Filed under: Industry, Displays, Hitachi, CRT

Tags: business, crt, HITACHI, industry, rptv, sell off, SellOff

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