LG.Display has announced plans to set up an 8th generation LCD plant in China. This marks the South Korean manufacturer’s first major production facility in the country.
LG to enter China
Japanese companies have traditionally produced components in Japan, South Korean manufacturers in South Korea and Chinese manufacturers in China. But the growing Chinese economy seems to have attracted new players.
LG will set up a 8G LCD plant in China
LG has now officially announced plans to set up an advanced 8G (8th generation) LCD plant in the Guangzhou area in China. The LCD plant will be able to produce large-size TV panels and be strategically located close to other component manufacturers in Guangzhou.
The goal is to start mass production in the second half of 2014, and LG hopes to benefit from China’s cheap labor force and favorable conditions. LG also hopes to get foothold in China; now world’s largest LCD-TV market. LG already has one smaller LCD production facility in Eastern China.
According to DisplaySearch, approximately 44.5 million LCD-TVs were sold in China in 2011. This number is expected to increase considerably in 2012.