LG Electronics Inc, the world's second-largest plasma display maker, said it plans to become one of the top producers of the panels.

The company plans to increase investment in production plants, enabling it to produce 550,000 plasma displays a month in 2006 and 730,000 panels monthly in 2007, LG said.

Reportedly, Samsung SDI Co is the world's largest maker of plasma display panels. Samsung produced 560,000 panels in the third quarter, compared with 482,000 panels by LG Electronics.

LG said in a filing to the stock exchange that it will invest in a new production line in the second half of next year to boost output of plasma displays.

The new line will be able to produce 180,000 displays a month, bringing its capacity with existing production lines to a combined 550,000 panels per month, the company said.

It said the amount of the investment and when production will begin have not yet been decided. LG forecasts that global 2005 PDP shipments are to rise to 7 million units from 3.5 million units in 2004. (ShanghaiDaily.com)