Lite-On, Philips to form a joint venture

— 1:47 PM on April 3, 2007

Just under a year ago, Lite-On formed a strategic alliance with BenQ and took over the firm's optical disc drive division. DailyTech reports that Lite-On has now partnered up with Philips, and that Philips and Lite-On plan to form a joint venture that will focus on manufacturing optical storage drives.

The joint venture will be christened Philips & Lite-On Digital Solutions, or PLDS, and it will begin operations on May 1. PLDS will reportedly handle sales, marketing, service, finance, and logistics for optical disc drives, but PLDS drives will be marketed under the Lite-On and HP brands. According to DailyTech, Lite-On's assumption of control of BenQ's optical storage division gave it the number two spot in the optical storage market, so this deal with Philips is sure to at least bolster its position.

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