Cree just announced a new supply contract with LG Display. Under the partnership agreement, Cree will supply LG with LED chips for flat-screen LCD devices. LG plans to expand the percentage of panels it produces that use LED-backlighting to approximately 50% of its total notebook LCD output.

Here’s more about the deal from LED Magazine:

Reuters quoted LG Display as saying, "Under the agreement, LG Display secures a stable supply of LED chips, a key component in next-generation LCD products, and receives technological support from Cree for LED packaging."

The partnership was signed in early January. Park declined to comment on further financial details such as the deal size and contract periods.