Two major industry giant, the company Pioneer Corporation and Sharp Corporation have signed a partnership agreement to establish a joint venture, which will work in the field of optical media.
The purpose of creating a new company, Pioneer and Sharp called the desire for increased efficiency in the use of their resources in the business of optical media and to take a leading position in the industry, particularly in the segment of Blu-ray, which has growth prospects in the future.
The joint venture will be operational from the first of October this year. The new company will develop, manufacture and sale of devices for use with optical media, with emphasis on optical drives, recorders and players.
The formal signing of an agreement on forming a new business is scheduled for June 25.