LG Philips LCD has secured a deal worth five billion dollars to supply LCD screens for Hewlett-Packard. Under the terms of the deal, LG Philips will be required to ship LCD screens for HP's laptop computers and desktop monitors from June 2005 to May 2008.
"This large long-term agreement further strengthens LG Philips LCD's presence in the notebook PC and monitor LCD market." - LG Philips
HP has released a statement to the effect that it believes this deal to be paramount to HP's continuing growth in the notebook and display market.
LG-Philips said it would be able to meet its obligations under the contract thanks to its sixth-generation production line in Gumi and a seventh-generation one in Paju that will go into operation in the first half of next year.