LG Display and Amtran Technology recently announced a joint venture that will fabricate LCD panels and television screen. Under this agreement 51% of the newly formed company will be owned by LG, the world’s second largest manufacturer of LCD panels, and the rest will be Amtran’s, who manufactures Vizio LCD TVs. These two companies hope to reduce costs and strengthen their client base by joining forces.

The LCD market has some fierce competitors who will do about anything to expand their market share, which often is the only way to improve revenues due to slim margins in the industry, so it’s no surprise that these companies chose to join forces. The exact financial terms were not mentioned, but the joint venture is expected to produce 3 million LCD modules and 5 million LCD TVs a year.