Hitachi in talks with Hon Hai on panel tie-up
Hitachi Ltd is in talks with Taiwan’s Hon Hai Precision Industry Co about a tie-up in small liquid-crystal display panels, the president of the Japanese industrial conglomerate said on Tuesday.
Hitachi President Hiroaki Nakanishi also told Reuters in an interview that changes in demand for nuclear power in the United States would make it hard for a joint venture with General Electric to meet its target of more than 38 power plant orders by 2030.
Nakanishi said he was still considering options for the conglomerate’s Hitachi Displays subsidiary.
Japan’s Nikkei newspaper said on Monday that Hon Hai, one of the biggest contract manufacturers for Apple’s iPhone and iPad, would buy a majority stake in the unit for about $1.2 billion.
“We are talking to them, that’s true,” Nakanishi said, when asked about the possibility of a tie-up between the two firms in the display sector. “They are interested. We have no reason to refuse (to talk).”
He gave no further details.