Samsung, LG Swallow Competitive Pride, Launch LCD TV Panel Purchasing Partnership

Despite being each other's biggest competitor, Samsung and LG Electronics, the world's number one and two manufacturers of LCD panels have agreed to a cross-purchasing deal for LCD TV panels. Samsung will buy 37-inch panels manufactured by LG Display, a subsidiary of LG Electronics, while LG will acquire 52-inch panels from Samsung. The two Korean companies, who will also buy LCD modules and cells from each other, previously had acquired both of the panel sizes from Taiwanese manufacturers. But with digital TV profit margins beginning to thin, the two companies now have to swallow their pride to benefit their respective bottom line. They expect to have all the details hammered out by July.

Via Engadget HD

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