December 17, 2009 / 2:48 AM / 10 years ago

Sharp to supply LCD panels to Philips - Nikkei

*Sharp will consider making LCD TVs for Philips - Nikkei

*Sharp says wants to supply more panels to Philips

*Sharp shares down 0.5 pct vs Nikkei average up 0.3 pct

(Adds Sharp’s comment and share price)

TOKYO, Dec 17 (Reuters) - Japan’s Sharp Corp (6753.T) will supply LCD television panels to Royal Philips Electronics (PHG.AS) in Europe and South America as early as next year, the Nikkei business daily reported on Thursday.

Sharp has been seeking stable customers for its panels to recoup its investment in its Sakai plant in western Japan, and the deal with Philips will mark the first major supply pact with a large overseas manufacturer, according to the Nikkei.

A Sharp spokesman said the company does supply some LCD panels to Philips and would like to expand that further. He declined to elaborate.

The Nikkei said Sharp will ship LCD panels to Philips’ factories in Poland and Brazil and will consider manufacturing LCD TVs for Philips in Poland in the future.

Philips has been trying to reduce investments related to flat-panel TVs, with the goal of breaking even in the business in 2010, the Nikkei said.

Shares of Sharp edged 0.5 percent lower to 1,115 yen, while the benchmark Nikkei average .N225 rose 0.3 percent.

(Reporting by Nobuhiro Kubo; Editing by Edwina Gibbs)

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