Loewe Announces Comprehensive Development And Production Partnership Agreement With Sharp

19-May-03

Loewe and Sharp have signed a memorandum of understanding (MOU) to increase their joint efforts in the field of flat-screen LCD televisions. The two companies are thus intensifying their collaboration, which began in 2000 with a joint technology venture in the LCD high-end segment.The main focus of the new agreement is on the joint development of premium-class, large-format LCD televisions for the European market. Loewe is a leader in digital signal processing technology with expertise in the development of premium products specially designed for European markets. Sharp has moved to a top position in the field of LCD technology and is the world market leader in the LCD television segment. The merging of the know-how and technology of the two companies provides ideal conditions for the development of technically advanced, premium products created for European markets.The agreement between the two companies also calls for optimizing assembly operations to pursue economies of scale. Loewe is already producing LCD-TVs in the production center of Kronach.Plans also call for collaboration in the area of product sales outside of Europe. Sharp has expressed interest in marketing Loewe products in Japan and other Asian markets. At the same time, Loewe is planning to expand its range of products sold in the USA.According to Loewe AG CEO Dr. Rainer Hecker, ""As the world market leader in LCD televisions, Sharp is a highly competent partner for Loewe's strategic approach to flat-display technology. This sets the stage for future technologies based on the television set.""Beginning in mid-2004, all new Loewe models introduced to the market will be flat-screen televisions, to emphasize the current assortment of ""real-flat"" picture tube TV sets. Gerhard Schaas, CTO and in charge of Loewe technology, adds, ""Our early entry into new plasma, LCD, and rear-projection display technologies places us in an excellent position to produce large-format displays for home cinema systems. Our work with Sharp strengthens our know-how in fundamental technologies and allows us to focus more intensively on customer-oriented system solutions.""Mr. Toshishige Hamano, Corporate Senior Executive Director of Sharp commented, ""Through this agreement, Loewe brings its special expertise in digital TV electronics to LCD TVs, which are an ideal match for digital technology, ensuring brilliant screen images and user-friendly operation."" The joint agreement will give Loewe access to the latest LCD technologies of Sharp, who is a member of the 3-D Display Consortium, a group of companies involved in the development of three-dimensional display techniques, formed to create and expand the 3-D display market.For more information about Loewe, visit www.loewe.de. For more information about Sharp, visit sharp-world.com.

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