LG Display to buy 30% of Taiwan's Amtran: Report
LG Display is considering buying 30 per cent of Amtran Technology, maker of Vizio brand LCD TVs, or forming a tie-up with the Taiwan company.
By Agencies |
TAIPEI: LG Display is considering buying 30 per cent of Amtran Technology, maker of Vizio brand LCD TVs, or forming a tie-up with the Taiwan company, a local newspaper said on Friday, citing market talk.
The two companies are in discussions now and they have not yet finalised the deal, the Chinese-language Economic Daily News reported, without giving other details.
The South Korean panel maker said it had no immediate comment on the report and an Amtran spokesman was not available for comment. Amtran was virtually unknown to consumers before it joined with its US partner, Vizio Inc, in 2005 to penetrate the North America market.
With a low-price strategy and good manufacturing quality, Vizio TVs proved a hit last year. Amtran has said it aims to ship 80 percent more Vizio TVs globally this year. In early trade, LG Display shares rose 0.22 percent and Amtran shares surged the daily 7 percent limit, outpacing a 1.2 percent gain on Taiwan's main TAIEX index.
The two companies are in discussions now and they have not yet finalised the deal, the Chinese-language Economic Daily News reported, without giving other details.
The South Korean panel maker said it had no immediate comment on the report and an Amtran spokesman was not available for comment. Amtran was virtually unknown to consumers before it joined with its US partner, Vizio Inc, in 2005 to penetrate the North America market.
With a low-price strategy and good manufacturing quality, Vizio TVs proved a hit last year. Amtran has said it aims to ship 80 percent more Vizio TVs globally this year. In early trade, LG Display shares rose 0.22 percent and Amtran shares surged the daily 7 percent limit, outpacing a 1.2 percent gain on Taiwan's main TAIEX index.
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