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LG Display to supply TV panels to Samsung: source

All Headlines 09:08 March 26, 2017

SEOUL, March 26 (Yonhap) -- LG Display Co. plans to supply 700,000 units of liquid crystal display (LCD) panels for TVs to Samsung Electronics Co. this year, industry tracker IHS Markit said Sunday.

It will be the first such deal between the two South Korean firms, which are competing in the global tech industry.

Samsung earlier sought to receive panels from Sharp Corp., but the Japanese player earlier announced it would end the supply after being purchased by Taiwanese Hon Hai Precision. Industry watchers said the decision was intended to promote sales of its own TVs instead of lending support to Samsung.

In 2016, Sharp is estimated to have supplied 5 million units of panels to the South Korean tech manufacturer, which takes up 10 percent of Samsung's annual demand for LCD panels.

LG Display said last month that the company is under discussion with Samsung on the LCD panels, with the supply anticipated to begin in the second half of 2017.

An official from Samsung, meanwhile, said the two companies have not yet inked an official agreement.

The logo of LG Display Co. (Yonhap)

colin@yna.co.kr
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