Flat panel maker LG.Philips LCD has revealed that it is in the works of changing its name to “LG Display” awaiting a positive nod at its shareholders’ meeting on Feb. 29.
Bang-Soo Lee, Vice President and Head of PR & Public Affairs at LG.Philips LCD said, “The new name is rooted in expansion of the business scope and shift in the business model, fully expressing the company’s commitment to the future. We will continue to maintain our strategy of putting customer satisfaction first based on product and technology leadership as the global display leader.”
LG.Philips LCD got into the move of rechristening after Royal Philips Electronics NV of the Netherlands, who is an affiliate in the joint initiative, sharply decreased its stake in the firm recently.
Once LG.Philips LCD attains its gaining approval at the shareholders’ meeting, it will formally start using its new name “LG Display” from March 3, onwards. The entire process to change the company name is expected to be completed by the end of June 2008. The entire procedure of the company’s name-change is slated to be completed by the end of June 2008.