The joint venture between LG Electronics and Phillips, LG Phillips, is to invest 1.4bn won (£70 million) into a new production line for its next-generation TFT LCD screens. At the official launch of the new venture, president and CEO Koo Bon-joon said he expected production to increase from 3.8 million units to 4.5 million, with sales expected to grow to £200 million in 2001. TFT screens are tipped as the future as advances in LCD technology mean users can enjoy the same high quality as conventional screens but with a greatly reduced footprint. Bon-joon also forsees a large increase in demand as other devices such as mobile phones and digital TVs grow in popularity. For this reason, he said, the company will move its focus away from notebooks and on to desktop PCs and TVs. The company is building a third plant, expected to open late next year, to manufacture fourth-generation LCDs. LG Electronics will manufacture the screens and Phillips will provide the global selling outlets. ®