LG Alliance with Alphabet Inc’s Google
SEOUL (Reuters) – South Korea’s LG Display said on Tuesday it is beefing up a strategic alliance with Alphabet Inc’s Google for stable panel supplies and new product development.
In a filing to the stock exchange, LG Display also denied media reports that the flat-screen maker has received direct investment worth 1 trillion won ($929.15 million) from the U.S. technology giant.
The company said in a previous filing in November that no details of any investment by Google had been finalised, following a report in South Korea’s Electronic Times that Google has offered to invest at least 1 trillion won to help LG Display boost output of organic light-emitting diode (OLED) screens for smartphones.
(Reporting by Hyunjoo Jin; Editing by Muralikumar Anantharaman)
