LG sells its last LCD TV factory to China’s TCL

LG is no longer in the LCD TV business

LG Display has officially sold its last LCD TV production facility to TCL, a Chinese company, formally ending the company’s LCD TV production. The facility, located in Guangzhou, China, was sold to TCL CSOT for approximately 10.8 billion yuan, which translates to around £1.13 billion ($1.47 billion USD).

Moving forward, LG Display will be focused on OLED and next-generation display technologies. However, the company still makes smaller-scale LCDs for IT devices. LG has stated that the proceeds from this sale will be invested in OLED technology developments.

We have completed the transaction approval and commercial registration procedures for the shares of LG Display’s Guangzhou panel factory (CA corporation) and module factory (GZ corporation).

– TCL to FlatPanelsHD (machine translated)

Today, Chinese manufacturers account for 70% of the world’s LCD TV screen production, up from 65% last year. While companies like LG and Samsung were previously well-known for manufacturing their own LCD panels, both companies now use Chinese-made displays for their latest LCD TV models. These panels typically come from brands like TCL and Hisense.

LG’s focus on OLED screens is due to their higher margins and OLED’s room for technological innovation. The display industry is moving towards next-generation display technologies. This is why LG believes that selling its Guangzhou manufacturing site will be a good move long-term.

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