South Korean LCD manufacturer LG Display has announced that it will cooperate with two Taiwanese companies, Everlight Electronics and Amtran Technology, to set up a LED joint venture in China.
With a total investment of USD30 million, the joint venture will be located in Suzhou and it will provide LED packaging for the backlight of flat panel displays. LG Display and Amtran Technology will respectively own a 20% stake in the joint venture and the remaining 60% will be held by Everlight Electronics. The new company is expected to be put into production at the end of 2010.
LG Display said that the new joint venture will become a stable LED supplier and based on the close cooperation of the three companies in the design and development of LED parts, its price competitiveness will also be improved. This new project is expected to enhance LG Display's leading position in the LED market.