LG has sold its last-remaining LCD TV panel production facility. The factory, based in Guangzhou, China, has been sold to TCL for 2 trillion won (€1.35bn). It will be handed over to the new owners on March 31st 2025.

The plant is currently busy producing low-end and mid-range LCD TV panels used in various products, including LG Electronics’ QNED LCD TVs.

The move by LG Display echoes that of Samsung Display which has also exited LCD production. The two Korean electronics giants are focusing on OLED production with better margins. Samsung will still offer consumers LCD sets but will source panels from China.

With the sale of the LCD plant in Guangzhou, LG Display will increase its focus and investments in OLED. LG currently has two major OLED plants located in Paju, South Korea, and Guangzhou, China.

“We plan to concentrate more on the OLED business to enhance our competitiveness and build stable profit bases. We also expect that the capital from the (plant) sale will help strengthen our financial stability,” LG Display said in a statement.

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Categories: Articles, Business, Equipment, UHD

Tags: china, Korea, LG, OLED