By Chris Nicholls
SYDNEY: Laser TV proponents Arasor have announced a joint venture with Chinese-based ZTE International to help produce laser-based televisions, projectors and mobile phone projectors.
The joint venture means the company will build a new factory to build the laser-based display devices, with US$300 million in financing from the China Development Bank.
According to an ASX announcement, the money will cover phase one of the project, which will run until 2010. By that time, the two companies hope to be making 6 million laser sources and 2.4 million light engines a year.
“Given our recent growth in the telecommunications sector, we are now excited to be at the forefront of the laser projection and display industry, particularly as we now control the supply chain in manufacturing laser light sources,” said Arasor chief executive Dr. Simon Cao.
The joint venture follows the recent acquisition of troubled laser source developer Novalux for US$7 million in Arasor stock and US$13 million in debt.