SOUTH KOREA: LG wins Mercedes display screen supply deal
LG Display in South Korea has agreed a deal to supply LED-lit LCD panels worth "several tens of millions of dollars" to Continental.
Under the partnership, the German company will supply 30,000 sheets of LG Display's 5.8-inch and 7.3-inch LCD panels monthly to Daimler for Mercedes-Benz E-class sedans.
Continental is a leading international supplier of automotive electronics which took over Siemens VDO in 2007. LG Display had previously sold its panels to the Siemens unit. Although the Korean supplier declined to comment on the exact amount of the deal, analysts said it could be worth around US$46m.
The panels are high-end products with light-emitting diode (LED) backlight bulbs, a relatively new technology also now finding its way into television sets. The 5.8-inch model will be used in low-end E-class models while the 7.3-inch panels are reserved for premium versions.
Mercedes has previoulsy used South Korean LCD panels in navigation or command systems in low-end models. The Korea Times said LG's products would replace Japan's Sharp and TMD as the major supplier of Mercedes' electronics devices.