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August 26, 2009

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LG Display eyes mainland plant

SOUTH Korea-based LG Display has signed a memorandum of understanding with the Guangzhou city government to build a 5 trillion won (US$4 billion) LCD (liquid crystal display) panel plant in Guangzhou, the world's second-biggest LCD panel maker said yesterday.

According to the MOU, LG Display plans to build an 8th-generation panel plant in the capital city of Guangdong Province. It will be the most advanced panel plant on the Chinese mainland.

"It still needs approval from South Korean authorities so it's not a done deal yet," said an official at LG Display China, who declined to be identified.

The more advanced LCD panel plants allow firms to make larger-sized LCD panels more efficiently, experts said.

At present, the most advanced LCD panel plants on the Chinese mainland are 5th-generation plants, which can only make panels for LCD monitors. Beijing-based BOE Co Ltd is building a 6th-generation plant in Anhui Province that will make panels for LCD televisions up to 37 inches.

The planned plant in Guangzhou would be able to make 50-inch panels for LCD TVs.

The timetable for completion of the facility and its monthly capacity were not available, LG Display said.

In the second quarter global LCD TV sales jumped 27 percent year on year to hit 30 million units, compared with a decline of 8 percent in total TV sales, according to DisplaySearch, a United States-based research firm.

LG Display ranked No. 2 globally in the LCD TV market by revenue with a 13.7 percent market share. Samsung was the market leader with 23 percent.



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