Prime View International ( PVI), HYDIS Technologies Co. Ltd., a subsidiary of PVI, and LG Display Co., Ltd., will combine their resources in a bid to take the lead in the global e-paper display market.
LG Display will invest in HYDIS technology through USD30.5 million corporate bonds. Both companies have entered into a cross license agreement, including FFS technology developed by HYDIS, as part of the comprehensive cooperation.
The two parties will mutually support production capacity on certain e-paper and high-end TFT-LCD to respond to growing market demand and to achieve higher cost efficiency. LG Display will provide consulting to HYDIS on production efficiency and quality. Meanwhile, LG Display and PVI, the holding company of HYDIS are also strengthening cooperative ties. As recognition for PVI's ePaper display leadership, LG Display has invested USD10 million in PVI's GDR issuance in December 2009.
LG Display and PVI will further collaborate on material sourcing in addition to technologies and productions. LG Display has already signed a supply agreement with E Ink Corporation who are a subsidiary of PVI - aiming to develop the ePaper market together. E Ink will expand customer base and increase market share, while LG Display can enjoy a stable supply from E Ink. Through such sourcing collaboration, e-paper eco-system is expected to be further expanded.
Young Soo Kwon, LG Display's President and CEO, noted, "The cooperation is expected to contribute significantly to our ability to take an early lead in one of our future growth business ePaper Display market. We have high hopes that this win-win collaboration will generate major synergies to solidify leading positions in Display industry for all of us."
For more attend Printed Electronics Europe 2010.