TheElec reported, according to industry sources, LG Display Korea Paju P7 plant will stop production of LCD panels later this month, so the company’s LCD TV panel production in South Korea will all end.
After that, LG Display’s Paju P8 plant will only be used to produce LCD, while the Guangzhou plant in China will only produce LCD TV panels, with the latter’s production capacity being reduced by 40%. In addition, the industry speculates that the P7 plant will be used to produce OLED TV panels, which will be put into mass production in 2026 at the earliest.
As previously reported by Business Korea, LG Display has decided to stop producing LCD TV panels for the Korean market by 2023.
LG Display said that product shipments have failed to meet initial targets due to the New Crown Pneumonia outbreak. LG Display has decided to stop producing low-margin LCD panels for the Korean TV market in response to the deteriorating display industry conditions. Its Chinese LCD plant also decided to convert part of its TV panel production line to IT equipment.
