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Sony, Olympus form new alliance

Oct 01 2012 08:06
AFP

Tokyo - Sony's new alliance with scandal-tarnished Olympus will produce endoscopes and other surgical tools packed with the Japanese electronics and entertainment maker's three-dimensional imagery and super-clear display technology called 4K.

The plan to have both "3D and 4K" in such products were announced Monday by Sony President Kazuo Hirai at a joint news conference with Olympus President Hiroyuki Sasa at the Tokyo Chamber of Commerce.

The deal, announced Friday, calls for Sony to invest ¥50bn to become the top shareholder in Olympus. Olympus needs to shore up its finances after a cover-up scandal of massive losses.

Hirai said Sony is aiming to control more than 20% of the surgery-medical equipment market by 2020. He said it couldn't do it alone and needed Olympus' expertise.


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