With an aim to stabilize its LCD (Liquid Crystal Display) panel supply, Chinese TV maker Skyworth announced on March 22 that the company has entered into a strategic agreement with LG Display and China's state-owned Guangzhou-Kaide Technologies, under which they will jointly establish a JV for LCD TV (Liquid Crystal Display Television), Dow Jones reported on March 23. The JV, to be named LG Display (China), is valued at US$4 billion altogether, with Skyworth holding a 10% stake, LG Display a majority stake of 70%, and Guangzhou-Kaide the remaining 20%, according to the same source. The new JV, however, is still pending approval by China's government. Should the JV be approved, the new JV will begin to mass produce LCD panels for use in LCD TVs with a screen size of more than 40-inches in the first half of 2010, with an expected annual capacity of 120,000 units.