May 18, 2011 / 8:32 AM / 6 years ago

Apple supplier TPK to expand touch panel business with Cando

TAIPEI (Reuters) - TPK, a major supplier of touch panels to Apple, will pay T$5.6 billion ($194 million) for 19.9 percent of touch panel maker Cando in a bid to lift its market share.

Cando is a touch panel unit of top LCD maker AU Optronics. It had said last November that it would invest in four new touch panel plants in Taiwan.

TPK told a media briefing that the purchase will help the company, Cando and AU build an alliance in the touch panel and display industry, and will give the companies more flexibility in production capability.

Reporting by Argin Chang

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