Shares of LG Display Co Ltd. (ADR) LPL were trading higher by nearly 1 percent early Friday morning after Reuters reported the company will supply information displays for Tesla Motors Inc TSLA's new Model 3 sedan. The publication also stated that the auto electronics market is a higher margin and more stable business when compared to the traditional consumer products segment.
Reuters, citing "a person with direct knowledge of the matter," noted that the order is a "feather in LG Display's cap" as the company is expanding its business into new markets. Nevertheless, the source added that LG Display will be the "sole supplier" of the 15-plus inch display unit.
At time of writing, Tesla was up over 5 percent at $241.78, while LG Display was down 1.4 percent at $11.27.
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