Korea-based LG Display said on March 12 that former Dutch partner Royal Philips Electronics has sold off its remaining stake in LG Display, Yonhap News Agency reported. Philips sold its 13.2% stake, or 47.2 million shares, for 630 million Euros (US$814.28 million; US$1=0.77 Euro) on March 11, ending its 10-year partnership with LG Electronics. Back in 1999, Philips and LG formed the 50-50 LCD (Liquid Crystal Display) panel manufacturing venture LPL (LG.Philips LCD). In October 2007 Philips lowered its stake in the venture to 19.9%, resulting in the subsequent change of name from LPL to LG Display in the following year. After the transaction this week, Philips no longer holds any stake in LG Display. Nevertheless, the Korean LCD panel maker said that Philips will remain one of its major clients.