Japan's JVC, Kenwood announce new technology venture

0 Comments | AFP, October, 2007

TOKYO (AFP) — Japanese electronics makers Victor Co of Japan Ltd (JVC) and Kenwood Corp announced Monday a joint venture to develop new technologies in car electronics and portable and home audio equipment.

The companies said they hope the new venture, J&K Technologies Corp, will enable them to cut development costs and to improve the price competitiveness of their products.

The venture comes after the two partners formed a strategic alliance in July. Kenwood and JVC have also agreed to consider merging their operations, possibly under a holding company structure by as early as 2008.

In the first stage, the new company will develop technology for car navigation systems.

It will also develop platforms for car multimedia products and for car and home...