L&T Display Technology: TPV Technology and LG Display Sign Joint Venture Agreement
TPV Technology and LG Display has entered a joint venture agreement establishing L&T Display Technology for TVs, located in Xiamen, and monitors, located in Fujian. The Xiamen-based JV will focus on manufacturing and selling LCD TV modules and TVs. The Fujian-based JV will concentrate on producing and selling LCD monitors, multi-function monitors, all-in-one PCs and digital signage displays. LG Display will have controlling interest in the two JVs with a 51% contribution. Investments toward the Xiamen-based JV total US$34 million and $50 million for the Fujian-based JV.
China Strategy The joint venture is a strategic move on the part of LG Display to tap into the burgeoning Chinese market as demand for LCD TVs, LCD monitors, PCs and digital signage grows far faster than advanced economies such as North America and Western Europe.
Source: “TPV signs joint venture agreement with LG Display” – DigiTimes