LG wins Volkswagen contract to supply audio systems

South Korea’s LG Electronics said on Sunday it had agreed with Germany’s Volkswagen, Europe’s largest auto maker, to supply car audio systems worth about $370 million.

Under the seven-year deal starting 2012, LG will become one of the largest suppliers of audio systems for three automobile brands under Volkswagen — Volkswagen, SEAT and Skoda — LG said in a statement.

The two companies have been in a partnership for car audio systems since 2007.

Courtesy: Reuters.

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