LG and Iriver form joint e-reader venture

Firms say new company could become market leader
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Iriver and LG Display have joined forces to set up a new e-reader OEM, which the firms believe could become the market leader in the sector.

The new firm, L&I Electronic Technology (Dongguan), is 49 per cent owned by Iriver and 51 per cent by LG, and will focus on original equipment manufacturing and original development manufacturing systems to develop e-books and provide production services.

Iriver, which will be the venture’s first customer, is responsible for product design and technical assistance, while LG will provide e-reader displays, such as electronic paper.

Iriver CEO Jae Woo Lee said: " If we succeed in generating a synergy between Iriver and LG Display, our joint venture company will grow to become the market leader with unrivalled competitive power in e-book development and production business.”

Eddie Yeo, LG Display’s executive vice president and head of the mobile/OLED business, added: “LG Display will utilise its advanced EPD technologies to achieve early commercial production of colour and flexible EPD and reach the global number one position by 2012."