LG selling off last LCD factory
August 8, 2024
By Chris Forrester
LG Display is making its final move to exit LCD production by selling off its Guangzhou, China-based production
factory. It is asking about $1.5 billion (€1.37bn) for the site and its facilities.
LG Display had already sold in 2022 its Paju, South Korea facility and had made no secret of its wish to exit LCD production in favour of OLED and its better profit margins. Local reports say that Chinese LCD producer TCL/CSOT could be a buyer for the Chinese site.
LG Display’s parent LG Electronics had already stated a commitment to OLED production for TV, laptop and other
related products. However, LG Electronics will continue to sell some LCD-based TV sets but will now buy the panel components from Chinese suppliers and in particular for NanoCell units.