Seoul, South Korea
- LG Display said it broke ground
Tuesday on a Gen 8 thin-film-transistor LCD panel plant in Guangzhou, China.
The new plant is
expected to begin mass production in the second half of 2014 to strengthen the
company's business competitiveness in China -- the world's largest LCD TV
The Gen 8 LCD
plant is located in Guangzhou's Advanced Technology Industry Development
District, and is a joint venture among LG with a 70 percent investment,
Guangzhous Development District with a 20 percent investment, and Skyworth
Display with a 10 percent investment.
is one of the largest TV set makers in China and a strategic partner to LG
LG said that local
production of LCD panels will allow greater efficiency by bringing production
closer to the market opportunity, "while also creating synergy with other LCD
Guangzhou is also near
such major set makers as Skyworth, Konka, and TPV in Shenzhen, Dongguan, and
LG Display said it
will be able to significantly reduce distribution, labor and tax costs for
better cost competitiveness.
of LG Display's 8th-generation LCD plant further distinguishes our competitive
advantage both locally and globally when it comes to supplying customers with
the best products and support," stated Sang Beom Han, LG Display CEO. "With the
local production of LCD panels, LG Display will continue to take the lead in
China with a streamlined, highly efficient production process."
DisplaySearch, approximately 44.52 million LCD TVs were sold in China in 2011.
China is now the world's largest LCD TV market, surpassing Western Europe and
North America. It is expected to expand to 57.20 million by 2014.
addition, the company's investment schedule in China will be finalized after
considering the display market situation and overall company investment