TAIPEI, Sep 22 (Reuters) High-level executives from Japan's Sharp Corp. <6753.T> travelled to South Korea last week to visit LG.Philips LCD Co. Ltd. <034220.KS>, as Philips seeks a buyer for its 32.9 percent stake in the Korean LCD firm, Taiwan media reported on Friday.
Philips wants to sell its stake in LG.Philips, the world's biggest maker of large liquid crystal displays (LCDs) used in TVs and PC monitors, but no specific names of interested buyers have emerged, according to previous reports.
The high-level delegation of officials from Sharp went to South Korea for three or four days last week, stopping to visit a number of LCD components suppliers and LG.Philips, a joint venture between Philips and LG Electronics <066570.KS>, the Commercial Times reported, without citing sources.
Spokesmen for LG Electronics and LG.Philips LCD said they had no knowledge of any interest by Sharp in LG.Philips LCD, and that Philips had not notified them of any progress in the possible stake sale.
LG.Philips is the world's largest maker of the large liquid crystal display (LCD) panels used in flat-screen TVs and PC monitors. But it has struggled in recent months amid a panel glut that has resulted in falling prices.
The company reported a record quarterly loss in the second quarter amid crumbling panel prices, as analysts said they do not expect a turnaround before the end of the year.
Sharp, a global leader in the LCD television market, has fared better, posting a 14 percent gain in quarter profit for the quarter through June as flat TV sales soared 50 percent.
Reuters DKS VP0750
Philips wants to sell its stake in LG.Philips, the world's biggest maker of large liquid crystal displays (LCDs) used in TVs and PC monitors, but no specific names of interested buyers have emerged, according to previous reports.
The high-level delegation of officials from Sharp went to South Korea for three or four days last week, stopping to visit a number of LCD components suppliers and LG.Philips, a joint venture between Philips and LG Electronics <066570.KS>, the Commercial Times reported, without citing sources.
Spokesmen for LG Electronics and LG.Philips LCD said they had no knowledge of any interest by Sharp in LG.Philips LCD, and that Philips had not notified them of any progress in the possible stake sale.
LG.Philips is the world's largest maker of the large liquid crystal display (LCD) panels used in flat-screen TVs and PC monitors. But it has struggled in recent months amid a panel glut that has resulted in falling prices.
The company reported a record quarterly loss in the second quarter amid crumbling panel prices, as analysts said they do not expect a turnaround before the end of the year.
Sharp, a global leader in the LCD television market, has fared better, posting a 14 percent gain in quarter profit for the quarter through June as flat TV sales soared 50 percent.
Reuters DKS VP0750
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