LG Display to make e-readers in Dongguan

LG Display and another Korean company iRiver have signed a contract on June 14 to form a joint venture in Dongguan to make e-book readers, The Chosun IIbo reported.

The two companies will invest a combined US$5 million to set up the venture in Dongguan, with LG Display holding a 51-percent stake and iRiver 49 percent.

Production will start in iRiver's existing plant in Dongguan Songshan Lake Science & Technology Industry Park in September with an aim to reach annual output of one million units next year. LG will supply the plant with e-book displays, such as electronic paper displays.

Market researcher DisplaySearch predicts the global e-book market will surge from US$350 million last year to $1.2 billion by 2011 and $1.73 billion by 2015.