LG.Philips LCD Changing Name to LG Display

LG.Philips LCD plans to change its official corporate moniker to LG Display upon approval at the firm’s annual general meeting of shareholders Feb. 29. LG Display will continue to manufacture TFT-LCD (thin-film transistor liquid crystal display) HD and SD TV units.

The company said its new corporate name was designed to “reflect the company’s business scope expansion and business model diversification, the change in corporate governance following the reduction of Philips’ equity stake, and LG’s commitment to enhanced responsible management.”

The process of changing the company name, which is expected to pass shareholder muster, likely will be completed by early July. LG.Philips LCD currently operates seven fabrication facilities (and four back-end assembly plants) in South Korea, China and Poland.