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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (12287)	12/2/2004 11:30:57 AM
From: Fred Levine	Read Replies (1) \| Respond to of 25522

LG.Philips to Spend $5.1 Billion on New Flat-Panel TV Factory By BLOOMBERG NEWS Published: December 2, 2004 EOUL, South Korea, Dec. 1 (Bloomberg News) - The LG.Philips LCD Company, the world's second-largest maker of liquid-crystal display television sets, plans to spend a record 5.3 trillion won, or $5.1 billion, to build the world's largest plant for flat-panel sets. The venture between LG Electronics of South Korea and Royal Philips Electronics of the Netherlands plans to begin mass production at the plant in the first half of 2006, the company said in a statement. The factory would make panels for 42-inch and 47-inch L.C.D. sets. LG.Philips and rivals like Samsung Electronics are investing in bigger plants to cut costs and lower prices to spur demand for L.C.D. televisions, which can sell for as much as $5,500. The market is forecast to grow 21 percent, to $43 billion, in 2005, according to the market researcher DisplaySearch. "These investments are a huge bet that there will be explosive demand growth for L.C.D. TV's," said Lee Seung Mun, who has LG.Philips shares in the holdings valued at $220 million that he manages at Midas Asset Management. "But it's still hard to figure out whether this hope will materialize." The plant is scheduled to process 45,000 sheets of glass a month starting in the first half of 2006, the company said. Production will gradually be increased to capacity, which is 90,000 sheets a month, it said. Samsung's seventh-generation L.C.D. plant, scheduled to begin production next year, will be able to cut 32-inch panels in a surface area six times that of a smaller fourth-generation plant at a cost that is 26 percent cheaper, according to DisplaySearch. fred