LG Display at 3-week high on Reuters report of panel supply deal with Samsung Elec

LG DISPLAY

17/05/2023 02:19

** Shares of South Korean display panel maker LG Display Co
Ltd  034220.KS  rise as much as 5.9% to hit a three-week high of
16,100 won 
    ** Reuters on Tuesday reported that LG Display was set to
supply large-sized high-end organic light emitting diode (OLED)
TV panels to Samsung Electronics Co Ltd  005930.KS  as early as
this quarter
    ** Analysts attributed Wednesday's jump to Reuters' report
as the market expects LG Display-Samsung Electronics deal could
help loss-making flat-screen maker turn profitable
    ** Analysts have speculated that LG Display was in talks to
supply OLED TV panels to a new client 
    ** Reuters was the first to report details of the deal with
Samsung Electronics
    ** Both LG Display and Samsung Electronics declined to
comment on the report
    ** LG Display supplies OLED TV panels to LG Electronics Inc
 066570.KS  and Sony Corp  6758.T , and also supplies smartphone
displays to Apple Inc  AAPL.O  
    ** The broader KOSPI market  .KS11  was trading up 0.3%, as
of 0057 GMT 

    ($1 = 1,320.9300 won)

 (Reporting by Heekyong Yang)
 ((Heekyong.Yang@thomsonreuters.com;))