Money Briefs: Google 'offers $1.2b injection in LG Display'

Google 'offers $1.2b injection in LG Display'

SEOUL • Google has offered to invest at least 1 trillion won (S$1.2 billion) to help South Korea's LG Display boost output of organic light-emitting diode (Oled) screens for smartphones, the Electronic Times reported yesterday.

The paper cited unnamed sources as saying Google offered the investment to secure a stable supply of flexible Oled screens for its next Pixel smartphones.

Samsung Electronics' flagship Galaxy smartphones use the bendable displays, while Apple is expected to start using them in at least some of its next iPhones.

LG Display declined to comment, while Google could not be reached for comment.

REUTERS


Flipkart secures $2b in biggest fundraising

MUMBAI • India's top e-commerce firm Flipkart has raised US$1.4 billion (S$1.97 billion) in its biggest fundraising to date as it takes on US tech giant Amazon for a larger share of the country's online retail market.

Tencent Holdings, eBay and Microsoft participated in the funding round, Flipkart said in a statement yesterday, which will value the Indian company at US$11.6 billion, lower than the US$15 billion valuation it achieved at its 2015 fundraising.

India is the world's fastest-growing Internet services market as a rising middle class increasingly shops online. Amazon announced last year it would invest over US$5 billion in India, and has recently expanded into online video and grocery shopping in the country.

REUTERS

A version of this article appeared in the print edition of The Straits Times on April 11, 2017, with the headline 'Money Briefs'. Print Edition | Subscribe