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Philips walks away from LCD panels, sells shares in LG Display

March 17th, 2008 · No Comments

Confirming its ongoing retreat from hardcore electronics, Dutch giant Philips has sold off more shares in joint venture company LG Display. Dropping 6.7 per cent, it now owns only 13.2 per cent of the Korean-based company. The sale raised 680 million euros. Philips, which once had a 45 per cent stake in the panel-making venture, is refocusing on its lighting, medical and consumer electronics businesses.

Tags: Corporate · LCD TV · Plasma · Trade

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