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Hitachi Ltd. said Tuesday it will form a new subsidiary in China to manufacture liquid-crystal displays for use in TV sets and cellular phones.

To be capitalized at $15 million and located in the China-Singapore Suzhou Industrial Park in Jiangsu Province, Hitachi Display Device (Suzhou) Co. will be owned 75 percent by Hitachi, 10 percent by local subsidiary Hitachi (China) Ltd., and 15 percent by Hitachi subsidiary Hitachi Electronic Devices Co.

Hitachi said the new company’s establishment will meet the growing demand for LCDs and make the firm more price competitive.

The new company will start production in October 2001. Once mass production starts, monthly output will be targeted at 75,000 thin film-transistor LCDs and one million supertwist nematic LCDs, Hitachi said.

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