LG Display to invest $2.6 billion for flat screens

LG Display to invest $2.6 billion for flat screens
AFP
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First Published: Wed, Jul 15 2009. 02 00 PM IST
Updated: Wed, Jul 15 2009. 02 00 PM IST
Seoul: South Korea’s LG Display Co., one of the world’s top LCD panel makers, said Wednesday it would invest 3.27 trillion won ($2.6 billion) to meet the growing demand for flat-screen televisions.
The company on Wednesday held a board meeting and approved a plan to expand its LCD display production lines at its plant in Paju, 25 kilometres (16 miles) north of Seoul, it said.
“The company has been experiencing a shortage of 20-30%” in its supply to meet swelling demand, the company said.
It plans to start production at the new facility in the second half of 2010, the statement said.
LG Display and local rival Samsung Electronics lead the global flat panel screen market.
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First Published: Wed, Jul 15 2009. 02 00 PM IST