LG Electronics to Sell Mobile Handsets to Hutchinson May 3, 2004

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Consumer electronics and appliance maker LG Electronics Inc. will export KRW1.2-trillion (approx. U.S. $1.02 billion) worth of mobile handsets to Hutchinson Whampoa Ltd. of Hong Kong, reports the Korea Economic Daily.

The two companies will likely sign an agreement on the deal "soon," the report says, quoting a South Korean ministry of finance and economy official.

According to the report, Hutchinson's chairman told South Korean Finance Minister Lee Hun Jai during a recent visit to Hong Kong that the company plans to purchase mobile handsets from LG Electronics.

LG Electronics plans to supply more than 2 million third-generation (3G) wireless handsets to Hutchinson, the report says.

An LG Electronics official said he couldn't immediately confirm the report.
(Dow Jones)

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