Philips to invest $1.6 billion with LG Electronics for active flat screen displays

17 Jun 2002

Royal Philips Electronics (Eindhoven, The Netherlands) will invest $1.6 billion in LG Electronics (Kumi, Korea) in a joint development effort for active matrix liquid crystal displays. The transaction includes Philips acquiring 50% of LG's LCD division and will create a new company which will incorporate the active matrix liquid crystal display activities of both companies. The agreement will also establish the manufacturing of 680*880 mm mother glass, which would be the largest on the market.