Toshiba LCD venture says to shutter lines

TOKYO, July 15 (Reuters) - A Toshiba Corp (6502.T) LCD unit said on Wednesday that it plans to stop production on some of its loss-making lines to fight mounting price competition with Taiwanese and South Korean rivals.

Toshiba Mobile Display Co (TMD), which makes small and midsize LCD panels used in cellphones, car navigation systems and laptops, will shut down two of its production facilities in Himeji, central Japan, by year-end, shifting some production to a factory in Ishikawa, northwest Japan.

Toshiba said in January it plans to cut 25 percent of its fixed costs in its LCD operations this year and shift focus on LCDs for high-end products and organic light-emitting diode technology.

Toshiba bought out Panasonic Corp's (6752.T) 40 percent stake in TMD in April. TMD reported a 36.2 billion yen operating loss in the year ended in March and aims to break even this year.

(Reporting by Mayumi Negishi)

((mayumi.negishi@thomsonreuters.com; +81-3-6441-1812; Reuters Messaging: mayumi.negishi.reuters.com@reuters.net))

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