Toshiba Corp said it would buy out its LCD joint venture with Panasonic Corp for about 2 billion yen ($20.3 million), aiming to speed up decision-making and restructuring to turn around the loss-making venture.

Toshiba will buy Panasonic's 40 percent stake in Toshiba Matsushita Display Technology, which is the world's second-largest maker of small and midsized LCD panels used in cellphones, car navigation systems and other devices.

After making the venture wholly owned and changing its name to Toshiba Mobile Display Co, Toshiba plans to focus on OLED Displays it said.

via reuters