Renesas cuts portfolio

Renesas has been working to improve the performance of the large-sized display driver IC business by implementing various measures including reducing manufacturing cost through process miniaturization and promoting development efficiency. However, the slowdown of the flat panel display market for mostly TVs and falls in prices have placed Renesas in a very difficult situation to secure profitability, a press release states. With no short term recovery in sight, Renesas concluded it is difficult to stay in the large-sized display driver IC business and decided to withdraw from the business as part of its structural reform measures. Outline of the large-sized display driver IC business Renesas will withdraw from the development of driver ICs for large-sized displays effective March 31, 2012. For those large-sized display driver ICs which have already started mass production, the company will discontinue its supply in consultation with existing customers using these drivers effective March 31, 2013. Renesas SP Drivers Inc., a consolidated subsidiary of Renesas Electronics, will continue to supply small- and mid-sized display diver ICs as in the past. The withdrawal does not have a significant impact to Renesas' consolidated financial results for the year ending March 31, 2012.