In an effort to meet demand for LCD TV’s Korean Companies Samsung Electronics and LG are set to cut deals with Taiwanese-based panel makers. The deals could be worth millions.

The amount of the purchase will account for more than 30% of the two companies’ panel needs, with the possible suppliers expected to be AU Optronics (AUO), Chi Mei Optoelectronics (CMO) and Chunghwa Picture Tubes (CPT). AUO and CMO will supply the South Korea-based companies with panels for LCD TVs and LCD monitors while CPT will supply LCD monitor panels, the paper indicated.

Both AUO and CPT declined to comment on the news while Samsung, LGE and CMO were unavailable for comment at the time of publication.

In an October 14 article, Woosik Chu, senior vice president of Samsung’s investor-relations team, indicated Samsung is seeing strong demand for 32-inch LCD TV panels and the company’s capacity can only meet half of the demand.

Global LCD TV shipments rose 36% sequentially and 156% on year to a record high of 5.5 million units and a 13% share of the TV market in the third quarter, according to DisplaySearch.