Like Samsung Display, LG Display has postponed its plan to phase out LCD TV panel production, according to a report by TheElec.
As panel prices increase
About a year ago, LG Display announced that it would end domestic LCD TV panel production. Its main competitor Samsung Display intended to end LCD panel production entirely. The two South Korean giants have now both made the decision to extend production by a year or so.
- "The extensions comes from LG Electronics’ request as it was finding difficulty in securing sufficient volume of LCD panels," the report said. "LG Electronics initially expected that it could procure IPS panels from China’s HKC and Sakai SIO (previously Sharp)."
LG Display will extend production to late 2021, according to the report. The company currently produces LCD TV panels at its 8.5G P8 and 7G P7 production lines in Paju, South Korea. LG Display will continue to produce LCD TV panels in China.
The report noted that increasing panel prices "also played a part in LG Display extending LCD production in Korea". In the third quarter of 2020, LCD panel prices increased 30% quarter-over-quarter.
Despite the delay in phasing out LCD technology, the company expects production of OLED TV panels to almost double in 2021 compared to 2020.
- Source: The Elec