LG expands chip suppliers away from Toshiba after quake: source
SEOUL | Tue Apr 19, 2011 1:34am EDT
(Reuters) - South Korea's LG Electronics Inc has diversified chip suppliers for home appliance products to Hynix Semiconductor and Panasonic away from Toshiba Corp after Japan's devastating earthquake in last month.
LG previously sourced more than half of its chip requirements for such products as fridges and washers from Toshiba to reduce costs but has diversified suppliers to ensure smooth supplies, an LG executive told Reuters.
The official declined to be named as the deal involves confidential agreements with suppliers.
(Reporting by Miyoung Kim; Editing by Jonathan Hopfner)
Credit: Reuters (www.reuters.com)
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