Lite-On and Philips Form Optical Drive Joint Venture

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This week Lite-On IT Corporation and Royal Philips Electronics announced that the joint venture between the two companies will officially take shape on May 1 of this year. The joint venture between the two companies will focus on the manufacturing and marketing of optical storage drives. Under the new agreement between Lite-On and Philips, the new venture will be called Philips & Lite-On Digital Solutions (PLDS). The European Commission has fully approved of the new venture as of April 2.

PLDS will be effective in Europe from 1st of May 2007. Lite-On IT BV, the European head office of Lite-On IT Corporation, will continue to provide the same service to its customers under the new flag of PLDS. The company will handle sales, marketing, service, finance and logistics of Optical Disc Drives (ODD). PLDS will continue to sell ODD under the brand names Lite-On and HP

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[Bastieeeh]

Here is the official press release, just in case somebody cares.

 

[WarEagleAU]

I care. Liteon and philips makes great drives. They both continually strive to bring new and innovative technology to us at an affordable price. The fact that these two behemoths are joining together means great things lie ahead for us all. I cant wait to see what they come out with first.