LG Display to sell stake in its Chinese LCD plant to TCL CSOT for 10.8 billion yuan
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SOUTH Korea’s LG Display said on Thursday (Sep 26) it had agreed to sell its stake in its large liquid crystal display (LCD) plant in Guangzhou, China, to TCL’s LCD unit CSOT for 10.8 billion yuan (S$2 billion).
The sale includes LG Display’s 80 per cent stake in its large LCD panel plant and 100 per cent of its LCD module plant, and is expected to be completed in March 2025, the Apple supplier said in a statement.
The move is meant to better focus its business on its organic light-emitting diode (OLED) operations, LG Display said, in which it is more competitive than in the saturated LCD market.
Analysts have said a sale would help LG Display’s financial structure, after it reported several quarterly losses last year and this year on weaker demand for gadgets that use display panels. REUTERS
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