LG.Philips LCD, a global display maker, said that it has begun to order equipment for its seventh-generation line in order to double the projection of LCD panels from next summer.

The plant, named P7, will produce 45,000 large-size sheets per month from the first quarter of next year. The amount will double at the second phase of production planned for the third quarter.

The company said it decided to order equipment for the second phase of mass production at P7 due to the rapid growth in the LCD TV market.

In December 2004, LG.Philips LCD announced plans for the new manufacturing plant at Paju, Kyonggi Province. The joint venture between LG Electronics and Royal Philips Electronics of the Netherlands began to install the equipment in July for the first phase of the production.

According to U.S.-based research firm DisplaySearch, the LCD TV market is expected to experience an annual growth of 115 percent in 2005 to 18.87 million units, up from 8.77 million units in 2004. The research firm forecast that the market will increase to 32.25 million units in 2006 and to 46.63 million units in 2007.

DisplaySearch's report also indicated that 32-inch and 37-inch panels will lead the market growth by taking up more than 37 percent of total LCD TV units in 2007. (The Korea Times)