DailyTech reports Philips and LiteOn will form a joint venture to develop optical drives:
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.
The move between Lite-On and Philips is one that industry analysts have been expecting to happen for about a year now. Last April, Lite-On took over BenQ's optical disc drive manufacturing operations. At the time, Lite-On and BenQ were partners in the optical drives business but the takeover placed Lite-On up to the number two spot in the list of biggest drive manufacturers in the world. According to the release: