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SEOUL, South Korea--(BUSINESS WIRE)--Jan. 25, 2006--LG.Philips LCD (NYSE:LPL)(KSE:034220), one of the world's leading TFT-LCD manufacturers, held a ceremony earlier today at its Gumi plant to officially launch its new Application Business Division. This new division is focused on invigorating the company's small to mid-size TFT-LCD business in order to further penetrate this attractive market segment. The ceremony was attended by LG.Philips LCD Vice Chairman & CEO Bon Joon Koo, President for Manufacturing Ki Seon Park and executives and employees of the new division.
In his speech at the launching ceremony, Vice Chairman & CEO Bon Joon Koo said: "The launch of the new Application Business Division is a further step towards LG.Philips LCD emerging as the world leader in the market for small to mid-size LCD panels, an area where we are making significant strides. We will generate customer value by providing differentiated, high quality products in a timely manner."
The new Application Business Division is comprised of development, planning, sales, production, and customer support functions that are tailored specifically to serve the needs of customers in the market for small to mid-size TFT-LCDs. By consolidating these functions under one specialized business division, LG.Philips LCD will be able to better serve clients in the small to mid-sized market by solidifying its cutting edge technology, product development skills and sales and marketing capabilities. LG.Philips LCD is already a leader in the market for large-area LCDs, and strives to also lead the global small to mid-size LCD market.
LG.Philips LCD started its small to mid-size LCD business in 2003, when it sold five million small-size panels, and the division's sales have since grown at a pace of more than 100% each year. The company's average monthly sales volume of small to mid-size products exceeded five million units from the second half of 2005. Since entering this market three years ago, total accumulated unit sales have exceeded fifty million small and five million mid-size panels, respectively, building a solid foundation for growing its presence in this market.
As the only TFT-LCD manufacturer with a portfolio of fabrication lines spanning the second to the seventh generation, LG.Philips LCD is uniquely equipped to efficiently respond to the diverse needs of its customers in the small, mid-size and large-area LCD markets.