LG to purchase US$900 mln LCD panels from AUO, Chi Mei

Oct. 23, 2009 (China Knowledge) - LG Electronics Inc, the world's second-largest maker of flat-screen televisions, will buy US$900 million worth of LCD panels from Taiwan-based AU Optronics Corp and Chi Mei Optoelectronics Co in 2010, a company spokesman said on Thursday, Dow Jones Newswire reported.

The spokesman did not disclose more details of the deal, according to the report.

Taiwan-based media earlier reported that LG would buy LCD panels from the two companies for US$500 million each.

AU Optronics, the world's third-largest LCD maker by revenue, Wednesday said its net profit attributable to equity holders amounted to NT$7.42 billion in the third quarter of this year, compared with NT$860 million a year earlier, with earnings per share standing at NT$0.84, China Knowledge reported earlier.

AUO plans to build a new LCD panel plant in mainland China as it expects China to become the world's biggest TV consumer in two to three years.

Chi Mei Optoelectronics, the world's fourth-largest LCD panel maker, recorded a net loss of NT$8.84 billion in the second quarter of this year, with loss per share standing at NT$1.24.