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Technology Stocks : C-Cube -- Ignore unavailable to you. Want to Upgrade?

To: DiViT who wrote (41286)	5/19/1999 4:08:00 AM
From: BillyG	Respond to of 50808

If the manufacturers are serious about targeting DVD players for audio applications, they had better sell a carousel model. Sony sells the only carousel DVD player on the market. Do you really want a single-drawer DVD/CD player, except for some audiophile applications?

To: DiViT who wrote (41286)	5/19/1999 5:34:00 AM
From: BillyG	Read Replies (1) \| Respond to of 50808

Philips invested in LG for more than its LCD technology. Read on..... koreatimes.co.kr LG to Utilize New Funds of $1.6 Bill for Restructuring 05/18(È) 17:43 By Nho Joon-hun Staff Reporter LG, having attracted the single largest foreign equity investment from Philips, is planning to utilize the new funds for speeding up its restructuring and making a viable contribution to the nation's economic recovery. Kang Yoo-shik, LG's chief officer for restructuring, said yesterday that the $1.6 billion from the Dutch electronics giant brings to $4 billion the total foreign equity LG has brought in since the beginning of last year. ''The new funds will be used to strengthen our core competence in areas like electronics, information and communications, services and chemical and reducing our debt-to-equity ratio,'' he explained. The attraction of the new funds also adds to the 2.56 trillion won LG has raised by selling the memory device portion of LG Semicon to Hyundai Electronics Industries in a much-publicized transaction. Under the deal with Philips, which took 14 months to complete, the Dutch firm will receive 50 percent of the shares of LG LCD (Liquid Crystal Display) in exchange for $1.6 billion which is to be paid in cash by the end of July. A new joint venture company, which will be the largest in the world in its field, will be established by Philips and LG LCD by around August for the continued production of a wide range of LCD products. LG LCD currently operates ultra-modern facilities in Kumi and the two companies will be injecting an additional 1.4 trillion won for manufacturing the world's largest LCD panels measuring 680 x 880 millimeters from the end of next year. Philips' decision to invest in LG LCD is aimed at securing a stable supply of LCDs in a market which is constantly running shortage problems and the combination of the technologies of the two firms should create a company with the highest competitive edge in its class. LG's attraction of the $1.6 billion follows similar efforts involving foreign companies, including $320 million from Dow Chemical, $500 million from Caltex, $400 million from British Telecom, and $800 million from Nico Metal. ''The attraction of the foreign equity makes it possible for LG to not only reduce its debt-to-equity ratio but open the way for increasing investments in areas like information and communications and services,'' Kang said. At the same time, the new funds provide LG with the financial power to pursue other projects currently underway, including the takeover of the management of Dacom Corp. and Daehan Life Insurance. Kang said, ''We have been negotiating in good faith with Tong Yang for the acquisition of its stake in Dacom and we are expecting to reach a compromise in the near future.'' Taking over Tong Yang's portion gives LG outright management control over the profitable telecommunications service carrier. As for Daehan Life Insurance, LG has participated in the initial bidding and is seen as the most viable contender, especially now that Metropolitan Life and Axa, which were planning to submit their tenders, pulled out. Meanwhile, Kang said LG and Philips are planning to expand the scope of their collaboration to beyond the production of LCDs, working closely together in the development of digital televisions, optical recording devices and cell phones. Philips, established in 1891, specializes in lighting devices, consumer and business electronics, domestic appliances and semiconductors. With a total work force of 265,000, Philips recorded sales of $34 billion last year. (C) COPYRIGHT 1999 THE HANKOOKILBO