LG Electronics Co. will invest U.S. $65 million to build a plasma display panel, or PDP, module plant in Nanjing, China, to expand its market share in the region. The new plant, scheduled to be launched in October, will have an annual capacity of 240,000 PDP sheets. The company released the information after signing an investment agreement with the Nanjing city government.
LG Electronics sold 15,000 PDP televisions last year, reportedly accounting for 25 percent of the Chinese market. The company aims to boost its market share to 40 percent, by selling 60,000 PDP television sets. (Dow Jones Newswires)
