May 8, 2018 / 8:41 AM / 13 days ago

LG Display says beefs up Google tie-up, but denies got $930 million investment

SEOUL (Reuters) - South Korea’s LG Display said on Tuesday it is beefing up a strategic alliance with Alphabet Inc’s Google for stable panel supplies and new product development.

A man walks out of the headquarters of LG Display in Seoul, October 20, 2011. REUTERS/Jo Yong-Hak/File Photo

In a filing to the stock exchange, LG Display also denied media reports that the flat-screen maker has received direct investment worth 1 trillion won ($929.15 million) from the U.S. technology giant.

The company said in a previous filing in November that no details of any investment by Google had been finalised, following a report in South Korea’s Electronic Times that Google has offered to invest at least 1 trillion won to help LG Display boost output of organic light-emitting diode (OLED) screens for smartphones.

Reporting by Hyunjoo Jin; Editing by Muralikumar Anantharaman

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