NEC and Mitsubishi will launch their joint company, NEC-Mitsubishi Electric Visual Systems, in the UK and Europe on July 20.

The European headquarters will be in Munich, Germany, with sales companies in the UK, France, and Germany. The company aims to increase monitor sales to 10 million by 2004.

NEC is the largest supplier of LCD display monitors in the world, and Mitsubishi is the market leader in aperture-grille CRT technology.

Al Giazzon, vice president of marketing for the company, said that high-end professionals would reap the most immediate benefit from the new company. He also revealed that the biggest barrier to selling more LCD monitors up to now has been price. He added that prices are set to fall as the two companies engage in aggressive moves to seize market share in the monitors market, according to MacCentral.

The first significant moves, he said, would be effective July 20, with price cuts on NEC-Mitsubishi’s 20-inch monitors and even cheaper prices for other sizes this summer. He also promises new lines of CRT monitors too.