LG Semiconductor to export 700 Million Dollar TFT-LCD to Philips
LG Semiconductor Co. announced on September 21 that it signed a contract with Philips of the Netherlands to provide its TFT-LCDs to the equivalent of 700 million dollars for the coming three years.Philips promised initially to pay 150 million dollars towards the total payment.
According to the contract, LG's cash flow situation is expected to improve sharply.
The reason why Philips bought the LCD from LG Semiconductor in such large quantities is that the TFT-LCD supply for the world market is expected to be insufficient.
Affiliates in the industry are estimating that the demand for TFT-LCD will increase from 11.5 million units this year to 16 million next year and 20.5 million units in 2000, an average 32% increase per year.
with the Korea JoongAng Daily
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