Subject: [NEXTEL-1] LG Elec to supply GM with wireless car terminals

From: [email-masked]
Date: Fri, 14 Nov 2003 13:28:07 -0500

LG Delivers GM a Wireless Navigation Solution

LG Electronics is supplying General Motors Corp. (GM) with wireless
navigation terminals for GM to use in passenger cars as well as for emergency
and anti-theft purposes. The South Korean company noted that it would supply
nearly 25 million of these terminals by 2006, which it says will boost the value

of the market to $23 billion. Further financial terms of the deal were not
disclosed

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LG Elec to supply GM with wireless car terminals

Thursday November 13, 2:35 AM EST

SEOUL, Nov 13 (Reuters) - South Korea's LG Electronics Inc (066570), said on
Thursday it had agreed a deal to supply General Motors Corp (GM) with wireless
terminals to use in cars for navigation, as well as emergency and anti-theft
purposes.
LG said it could not disclose financial details because doing so was barred by
the contract, but it said the deal would involve Buick Regal sedans and Pontiac
Grand Prix models sold in the U.S. market from as early as 2005.

LG will join the world's second-largest mobile phone maker, Motorola Inc (MOT),
supplying terminals for GM.
LG expects some 25 million terminals to be put in cars globally in 2006,
boosting the value of the market to $23 billion.
Shares of LG Electronics, the country's eighth biggest stock with a market value
of $7.36 billion, closed up 1.35 percent at 59,900 won, underperforming a
2.1-percent gain in the broader market (KS11).

http://money.iwon.com/jsp/nw/nwdt_rt_top.jsp?cat=TOPBIZ&src=201&feed=reu&section=news&news_id=reu-seo359399&date=20031113&alias=/alias/money/cm/nw

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