NEC and SVA see liquid crystal displays in China's future.

The two electronics companies on Wednesday said they have signed an agreement to create a Shanghai-based joint venture by June 2003. SVA, the largest electronics group in China, is a holding company with interests in product development, manufacturing and sales of household appliances and LCD displays.

The forthcoming company, which is thus far unnamed, will plan, develop and manufacture thin filament transistor LCD panels and modules for PCs, monitors and displays primarily for the Chinese market. NEC and SVA invested 50 billion yen, or just over $416 million, in the company, with 75 percent coming from SVA and 25 percent from NEC.

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