LG Philips LCD, the 50-50 joint venture between Korea’s LG Group and Philips of the Netherlands, has announced a record $200m in monthly sales for September. A statement attributed the achievement to surging global demand for TFT-LCDs (thin film transistor-liquid crystal displays) which are used for notebook PCs and flat-panel TVs. Demand for TFT-LCDs has been outstripping the supply since late last year. The situation will remain the same well into 2001, said a company spokesperson.
He said the strong performance is also attributable to the synergy from the joint venture, which brought together the two companies’ LCD operations, helping each to expand production capacity and secure a stable market for its products. The company expects sales to be worth $2bn this year, up 400% from what the two partners achieved last year before the merger, putting it in first place in the global flat panel screen market.
