* LG, Samsung supplying panels for new iPad-source
* LG shares pare losses, trading flat vs 1.2 pct gain in
SEOUL, March 14 (Reuters) – Flat screen maker LG
Display Co Ltd (034220.KS) is supplying touch-screen panels for
Apple Inc’s (AAPL.O) new iPad, a source close to the matter said
on Wednesday, helping its shares recover early losses.
Bloomberg reported earlier that Samsung Electronics Co Ltd
(005930.KS) was the sole supplier for the new iPad after LG and
Japan’s Sharp Corp (6753.T) failed to meet the U.S. company’s
quality requirements, quoting an analyst from research firm
“LG is also in a panel supply deal with Samsung for the new
iPad,” the source said. The source was not authorized to speak
to the media and declined to be identified.
Apple is expected to raise its spending on mobile displays
by 91 percent this year to $9.0 billion to make iPhones and
iPads, according to iSuppli, providing a big source of revenue
to Asian suppliers.
LG Display, which has supplied panels for the previous iPad
models along with Samsung, declined to comment.
Shares in LG Display, which vies for the title of the
world’s top flat-screen maker with rival South Korean firm
Samsung, traded up 0.5 percent by 0545 GMT, after falling as
much as 1.4 percent, against a 1.1 percent rise in the broader
Apple’s latest iPad, which was launched last week and will
hit store shelves on March 16, sports a crisper display, more
powerful chip, better camera and faster network speed.
According to Credit Suisse, Apple will command 66 percent of
the tablet market in 2012, thanks to its brand and hardware
The global tablet user base reached 67 million in 2011 and
Apple captured 58 percent of the market in the fourth quarter of
the year, according to researcher Strategy Analytics.
(Reporting by Miyoung Kim; Editing by Richard Pullin)
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