LG Display announced on June 14, 2010 that it
will establish a joint venture L&I Electronic Technology in China with
Iriver to produce e-book readers, according to Dow Jones Newswires. It is
reported that the initial capital for the venture will be around US$ five
million, and LG will hold 51% of the venture business, while Iriver will hold
the remaining 49%. L&I Electronic Technology aims to start production in
September 2010, and it expects to reach an annual production capacity of one
million a year by 2011.
Iriver is an MP3 player manufacturer, and it is
said that for the joint venture, Iriver will be in charge of product design and
platform development, while LG Display will be responsible for providing e-book
displays, according to the same source.