SEOUL, South Korea (AP) — LG.Philips LCD Co. shareholders approved a proposal Friday to change the liquid crystal display maker's name to LG Display Co. Ltd., the company said.
The approval came at a shareholders' meeting in Paju, north of Seoul, said spokeswoman Sue Kim. She said the name change would become official Monday.
LG.Philips LCD said earlier this month that it planned to change its name line with a reduction in shares held by Royal Philips Electronics NV of the Netherlands.
LG.Philips LCD, the world's second-largest manufacturer of liquid crystal displays, began as a joint venture between South Korea's LG Electronics Inc. and Philips in 1999, though both sides gradually reduced their stakes.
In October of last year Philips reduced its stake to 19.9 percent from 32.9 percent. LG Electronics, currently LG.Philip's largest shareholder, holds a 37.9 percent stake.
