Korean LG Electronics confirmed on March 12 that the company plans to purchase LCD (Liquid Crystal Display) panels from Japanese rival Sharp, in a bid to double its annual production capacity of LCD TV sets to 14 million units in 2008, Yonhap News reported. The purchase deal marks the first such cooperation between the two companies.

 

The Korea Times reported that the deliverables include 32- and 54-inch LCD panels, and the first batch will be two million 32-inch panels. Meanwhile, LG declined to reveal the value of the deal and the exact number of 52-inch panels to be purchased from Sharp. However, according to a report by Korea's ETNEws, the panel shipments are expected to be delivered within the first half of 2008.

 

Aside from Sharp, LG Display - formerly known as LPL (LG.Philips LCD) prior to March 3, 2008 - has been supplying panels to LG Electronics, mainly focusing on 37-inch panels, also according to ETNEws.