Toshiba plans to invest in LG.Philips

Japanese tech giant Toshiba is considering investing in the LG.Philips LCD’s Polish subsidiary. They might purchase a 20% stake to ensure that they continue to get a steady supply of LCD panels for European televisions.

They plan to invest around $46.2 million to acquire the stake in LG.Philips LCD Poland. Toshiba is building a new LCD TV factory near this unit and the investment would ensure steady supplies of parts for television sets.

Toshiba expects to start the manufacturing of LCD TVs at its new factory in August 2007. And they are planning to procure panels over 50-inches in size from the LG.Philips LCD factory.

The company added that they are hoping to produce around 3 million LCD TVs in Europe by fiscal year 2009.

Popularity: 5%