Today, Apple added the much anticipated 27 inch LED Cinema Display to the Apple Store online. This new size of LED Cinema Display has an amazing 2560-by-1440 resolution. Plus it’s IPS, just like iPhone 4, so off angle viewing and color accuracy are top notch. It also comes with an iSight, a microphone, 2.1 speaker system, and 3 USB ports built in. Basically, it’s a 27 inch iMac without the computer part. You can order one today for $999 and hopefully get it in a week or two.

LG has just signed a five-year contract with Apple which states that they will be providing LCDs for the company. Apple apparently wanted LG’s LCD and next-generation OLED displays for its line of notebooks and Cinema Displays, along with future iPhone and iPod models. LG will receive US$500 million for the displays from Apple under this new contract.