LG Display teams up with leading LCD TV makers in China for “IPS camp”
LG Display [NYSE: LPL, KRX: 034220], a leading innovator of TFT-LCD technology announced that it signed an agreement with major LCD TV makers in Beijing, China, on September 19th to form an “IPS camp” for joint marketing in the Chinese market. The eight LCD TV companies that signed the agreement are Changhong, Haier, Hisense, Konka, LG Electronics, Panasonic, Philips and Skyworth.
The “IPS camp” participants intend to feature the “硬屛(Ying Ping)” logo, which represents IPS technology, in TV, newspaper and POP (point of purchase) ads and other promotional materials. They will also conduct training on the advantages of IPS technology for promoters at retail outlets and hold demonstrations at exhibitions and roadshows to promote the superiority of IPS technology to consumers.
Young Soo Kwon, President and CEO of LG Display said, “We decided to establish a joint venture with AmTRAN to provide differentiated value for our customers and consumers. We will reinforce our basic strengths through successful management of the joint venture and P8, which is scheduled to start mass production early next year.”
The joint marketing activities are expected to create a win-win effect for LG Display and “IPS camp” participants. The participating LCD TV makers, whose collective share of the Chinese TV market already exceeds 50%, are likely to further strengthen their market position. The LCD TV market in China is forecast to grow by an average 30% per annum and account for 18% of the worldwide LCD TV market by 2012 (about 33 million TV sets). (Source: DisplaySearch)
In his congratulatory message, LG Display CEO Young Soo Kwon said, “Along with product technology, marketing techniques should also evolve in order to deliver greater value to clients and consumers. I am confident that “IPS camp” will present a new model of successful joint marketing between panel makers and set companies.”
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