Latest News
LG Display Announces a Joint venture with Everlight and AmTRAN
2015-03-27
LG Display Co., Ltd., a leading innovator of thin-film transistor liquid crystal display (TFT-LCD) technology, announced that it will establish a joint venture with Everlight Electronics, one of the world’s largest LED packaging firms, and AmTRAN Technology, a display manufacturer specializing in computer monitors and flat panel televisions, to strengthen its position in the LED-backlit LCD market. The joint venture will provide LED packages for backlight unit employed in LCD panels.
The joint venture company will be set up in WeJiang City, Suzhou, China, and capitalized at USD 30 million. LG Display and AmTRAN will each hold a 20 percent while Everlight will hold a 60 percent equity in the new company.
Scheduled to launch production at the end of this year, the joint venture will facilitate organic cooperation with a supplier of a key LCD component. It implies the addition of another stable supplier of LED parts boasting price competitiveness based on close collaboration in designing and developing parts. As a result, LG Display expects to strengthen its position in the LED-backlit LCD market.
Everlight, which is widely recognized as a leading LED packaging firm, will gain access to a stable customer. The joint venture will also help Everlight to step up in R&D for LED packaging technology and take advantage of the fast growing LED backlight market. In addition, AmTRAN will utilize its core competence in R&D on flat-panel televisions and dedicate to play a high-priority role in stringing up-and-down stream of LED strategic partners to broaden the product application.
LG Display will continue pursuing its so-called ‘Business Transformation’ strategy to sustain growth and sharpen its edge and to provide more competitive products to markets. The strategy involves forming strategic alliances with parts, materials and equipment companies, in addition to demand industries such as TV and IT firms.