By Marcus Leach

Three technology giants, Sony, Toshiba and Hitachi are set to join forces in order to develop and make LCD displays for both tablet PCs and smartphones.

Money from the Japanese government will enable them to compete on a level footing with rivals in South Korea and Taiwan as they look to make small and medium sized LCD screens.

At first there was a hesitancy for investment by the Japanese firms due to fears that prices were likely to fall, but now the firms will join forces and be operated by Innovation Network Corporation of Japan (INCJ), a government-backed firm.

It is expected that the three firms will have an integrated business as early as 2012.

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