lg lcd panel manufacturer made in china

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LG Display will also continue to manufacture LCD panels for TVs at its facility in Guangzhou, China. However, their production capacity will be reduced by 40% than before __ from 210,000 Gen 8.5 substrates per month to 120,000. The facility has two factory lines __ GP1 and GP2.

LG Display Co., a major South Korean display maker, is expected to stop producing liquid-crystal display panels for TV by the end of this year at the earliest, industry sources said Monday, amid falling profitability and fierce competition from Chinese rivals.

The company said in a regulatory filing last week that it was reviewing an end of production at its LCD TV panel factory in Paju, north of Seoul, without specifying the exact date of production suspension.

The panel maker has been scaling down its loss-making LCD TV panel business, with a goal of discontinuing domestic production as early as possible. It has also said it will reduce production in China in a phased manner.

Demand was falling at an "unprecedented level" both for LCD and premium organic light-emitting diode panels, the company said during an earnings call in October, after years of pandemic-driven strong growth for personal IT devices.

Facing mounting challenges, the company has been trying to turn its business around by putting more resources in LCD panels for IT products and high-margin OLED business and expanding its high-value make-to-order business.

Kim Yang-jae, an analyst at Daol Investment & Securities, forecast OLED panels will make up for more than 60 percent of LG Display"s revenue by 2023, up from less than 40 percent in 2021.

LG Display"s fourth-quarter operating profit is forecast to be around 515.9 billion won, according to an estimate by Yonhap Infomax, the financial news and information arm of Yonhap News Agency.

Samsung Display, Samsung Electronics" display unit, had scaled down its LCD TV panel business since mid-2010 and completely stopped production in June.

LG Display has started mass-production at its second OLED panel production plant, the company announced Thursday. The new plant, located in Guangzhou, China, has the capacity to initially produce 60,000 OLED sheets a month, which combined with LG’s existing plant in Paju, South Korea means that LG Display’s total OLED production capacity has almost doubled to 130,000 sheets monthly.

According to LG, the panels produced at its new plant will be used to create displays ranging in size from 48 to 77-inches. They’re for TVs, in other words. LG Display is a major supplier of OLED panels for TVs across the industry. 19 brands, including LG, Vizio, Sony, Panasonic, Hisense, Bang & Olufsen, and Toshiba, use LG Display OLED panels in their TVs according to FlatPanelsHD.

The opening of LG Display’s new plant comes as it and competitor Samsung Display are shifting their attention away from LCD panels, which the majority of TVs currently use. LG Display announced earlier this year that it is ending production of LCD TV panels in South Korea, Reutersreports, while Samsung Display said it was ending LCD display production in South Korea and China.

LG Display’s CEO, James Hoyoung Jeong, said he hoped the new plant will “enable more rapid adoption of OLED displays in the market.” He called large OLED displays an “essential growth engine” for LG Display. LG Display says that production capacity could increased to 90,000 sheets a month in the future at the new factory.

By 2021, LG Display has said it wants OLED panels to make up 50 percent of its revenue, up from around 30 percent in 2018, according to Reuters. Samsung Display, meanwhile, is pinning its hopes on quantum dot, with ZDNet reporting that its future QD displays will incorporate an OLED panel rather than the LCD layer used by its existing displays.

SEOUL, Korea (Aug. 30, 2019) – LG Display announced today the opening of its 8.5th generation (2,200mm x 2,500mm) OLED panel production plant in Guangzhou, China, ushering in an era of producing 10 million large-size OLED panels a year.

LG Display’s new Guangzhou OLED panel plant started mass-production from this month and will mainly manufacture large-size high-resolution OLED products including 55-inch, 65-inch and 77-inch panels. The initial monthly capacity will be 60,000 sheets, which will be further expanded to 90,000 sheets by 2021.

The company expects to produce over 10 million OLED panels a year by 2022 when this monthly capacity of 90,000 sheets is combined with the 70,000 sheets currently manufactured at its OLED panel plant in Paju, Korea, as well as an additional 45,000 sheets to be produced at its 10.5th generation (2,940mm x 3,370mm) plant in Paju from 2022.

The new 8.5th generation OLED panel plant is operated by LG Display High-Tech China (LG Display High-Tech China Co., Ltd, LGDCO), a joint venture established between LG Display and Guangzhou Development District (GDD). LG Display holds a 70 percent stake with KRW 2.6 trillion in capital.

“Based on our vast experience and capability in OLED production, LG Display will make every effort to ensure the success of LG Display High-Tech China,” said Dr. Sang Beom Han, CEO and Vice Chairman of LG Display, at the opening ceremony attended by Korean and Chinese officials, top executives from LG group, and representatives from customer and partner companies. He added, “With our dual OLED panel production sites in Korea and China, the company will further accelerate the OLED trend in the global premium TV market by providing large-size OLED panels to the world.”

The new 8.5th generation OLED panel plant is built on 74,000 m² of land -- the equivalent of around 10 football fields. With nine levels above ground, the total floor area amounts to 427,000 m². The total area of the LG Display Guangzhou Cluster, which includes LCD panel and module plants, partner company complexes and additional facilities, amounts to 1.3 million m².

As many companies are not able to mass-produce large-size OLED panels due to technical limitations, LG Display, the pioneer and only manufacturer of large-size OLED panels in the world, plans to further widen the gap with its competitors and strengthen its leading position starting from the operation of its Guangzhou OLED plant. Given that LG Display’s customers, including LG Electronics, Sony, Philips, Hisense, Skyworth, Changhong, and Konka, operate TV production plants in China, the company will further boost its competitiveness by providing technology and products in a timely manner.

In addition, as LG Display has been running an 8.5th generation LCD panel plant in Guangzhou, excellent conditions optimized for 8.5th generation display production have already been established in this region in terms of infrastructure, tariffs, and labor and distribution costs.

The sharp increase in OLED TV demand is driven by a growing number of global TV brands manufacturing OLED TVs. The total number of those brands is now 15 worldwide and will reach 16 in 2020 when the largest TV maker in the U.S., Vizio, joins the trend. Accordingly, LG Display’s large-size OLED panel sales are on a significant and constant rise. The company saw an increase in OLED TV panel sales to 2.9 million units in 2018 and yet another increase to 3.8 million units is anticipated in 2019. LG Display expects its large-size OLED panel business to turn to profitability on an annual basis for the first time this year due to these increasing sales.

In order to meet the rapid growth in demand for OLED panels in the premium TV market, LG Display has decided to implement a two-track OLED production strategy by manufacturing large-size OLED panels in both Korea and China. LG Display’s large-size OLED panel production capacity will further increase once the 10.5th generation OLED panel production line at its P10 plant in Paju, Korea goes into operation in 2022. To this end, the company recently announced an additional investment of KRW 3 trillion into this 10.5th generation OLED production line. Through this increased production capacity, LG Display can improve productivity and profitability via economies of scale, thereby advancing the OLED era.

LG Display (Korean: LG 디스플레이) is one of the world"s largest manufacturers and supplier of thin-film transistor liquid crystal display (TFT-LCD) panels, OLEDs and flexible displays. LG Display is headquartered in Seoul, South Korea, and currently operates nine fabrication facilities and seven back-end assembly facilities in Korea, China, Poland and Mexico.

LG Display was originally formed as a joint venture by the Korean electronics company LG Electronics and the Dutch company Philips in 1999 to manufacture active matrix liquid crystal displays (LCDs) and was formerly known as LG.Philips LCD, but Philips sold off all its shares in late 2008.joint venture, called LG.Philips Displays, dedicated to manufacturing cathode ray tubes, deflection yokes, and related materials such as glass and phosphors.

On 12 December 2008, LG.Philips LCD announced its plan to change its corporate name to LG Display upon receiving approval at the company"s annual general meeting of shareholders on 29 February. The company claimed the name change reflects the company"s business scope expansion and business model diversification, the change in corporate governance following the reduction of Philips" equity stake, and LG"s commitment to enhanced responsible management.

LG Display became an independent company in July 2004 when it was concurrently listed on the New York Stock Exchange (NYSE: LPL) and the South Korean Stock Exchange (KRX: 034220).

They are one of the main licensed manufacturers of the more color-accurate IPS panels used by Dell, NEC, ASUS, Apple (including iMacs, iPads, iPhones, iPod Touches) and others, which were developed by Hitachi.

In December 2010, the EU fined LG Display €215 million for its part in an LCD price fixing scheme.Chimei Innolux, AU Optronics, Chunghwa Picture Tubes Ltd., and HannStar Display Corp.

This followed the 2008 case in the US, when LG Display Co., Chunghwa Picture Tubes and Sharp Corp., agreed to plead guilty and pay $585 million in criminal finesliquid crystal display panels.

LG Display would pay $400 million, the second-highest criminal fine that the US Justice Department antitrust division had ever imposed. Chunghwa would pay $65 million for conspiring with LG Display and other unnamed companies and Sharp would pay $120 million, according to the department.

LG Display this month started production at its 8.5th Generation OLED manufacturing facility in Guangzhou, China. When fully ramped, total capacity of the factory will be 90,000 substrates per month. The plant will produce 55, 65, and 77-inch high-resolution panels for televisions. In fact, LG’s goal is to make 10 million large size OLED panels per year by 2022, which means to more than double its current output.

The new 8.5G OLED panel plant is a nine-level building above the ground that occupies a 74,000 m² piece of land and provides 427,000 m² of floor space. Initial capacity of the manufacturing facility will be 60,000 2200×2500 mm substrates per month, which will be expanded to 90,000 sheets per month by 2021. The factory will be operated by LG Display High-Tech China, a joint venture between LG Display and Guangzhou Development District, in which the former holds a 70% stake (with ~$2,150 billion in capital).

Facing cut-throat competition from various makers of liquid crystal displays, LG Display recently set a strategic goal to significantly expand production of large OLED panels in a bid to serve more lucrative and growing market segments. LGD says that it sold 2.9 million huge OLED panels in 2018 and expects to sell 3.8 million large panels this year, which will turn this business to profitability. Citing market researchers, the manufacturer says that demand for OLED TVs and panels is growing and to that end, it makes a great sense to invest in OLED plants.

Right now, LG makes 70,000 8.5G OLED substrates at its plant near Paju, South Korea. The company is building a 10.5th Generation OLED plant near Paju that will produce 45,000 of 2940×3370 mm substrates per month when it is ready in 2022. Combined, LGD will manufacture 160,000 8.5G OLED substrates and 45,000 10.5G OLED sheets a month in 2022. The company hopes that its expanded manufacturing capacity will enable it to make 10 million of large OLED panels per year by 2022.

LG Display and Samsung Display are struggling to find their ways out of the deterioration of their performance even after withdrawing from production of liquid crystal display (LCD) panels. The high-priced organic light emitting diode (OLED) panel sector regarded as a future growth engine is not growing fast due to the economic downturn. Even in the OLED panel sector, Chinese display makers are within striking distance of Korean display makers, experts say.

On Aug. 30, Display Supply Chain Consultants (DSCC), a market research company, predicted that LCD TV panel prices hit an all-time low in August and that an L-shaped recession will continue in the fourth quarter. According to DSCC, the average price of a 65-inch ultra-high-definition (UHD) panel in August was only US$109, a 62 percent drop from the highest price of US$288 recorded in July in 2021. The average price of a 75-inch UHD panel was only US$218, which was only about half of the highest price of US$410 in July last year. DSCC predicted that the average panel price in the third quarter will fall by 15.7 percent. As Chinese companies’ price war and the effect of stagnation in consumption overlapped, the more LCD panels display makers produce, the more loss they suffer.

As panel prices fell, manufacturers responded by lowering facility utilization rates. DSCC said that the LCD factory utilization rate descended from 87 percent in April to 83 percent in May, 73 percent in June, and 70 percent in July.

Now that the LCD panel business has become no longer lucrative, Korean display makers have shut down their LCD business or shrunk their sizes. In the LCD sector, China has outpaced Korea since 2018. China’s LCD market share reached 50.9 percent in 2021, while that of Korea dropped to 14.4 percent, lower than Taiwan’s 31.6 percent.

Samsung Display already announced its withdrawal from the LCD business in June. Only 10 years have passed since the company was spun off from Samsung Electronics in 2012. LG Display has decided to halt domestic LCD TV panel production until 2023 and reorganize its business structure centering on OLED panels. Its Chinese LCD production line will be gradually converted to produce LCD panels for IT or commercial products. TrendForce predicted that LG Display will stop operating its P7 Plant in the first quarter of next year.

Korean display makers’ waning LCD business led to a situation in which Korea even lost first place in the display industry. Korea with a display market share of 33.2 percent was already overtaken by China with 41.5 percent) in 2021 according to market researcher Omdia and the Korea Display Industry Association. Korea’s market share has never rebounded in for five years since 2017 amid the Korean government’s neglect. Seventeen years have passed since 2004 when Korea overtook Japan to rise to the top of the world in the LCD industry. Korea’s LCD exports amounted to more than US$30 billion in 2014, but fell to US$21.4 billion last year.

A bigger problem is that Korean display makers may lose its leadership in the OLED panel sector although it is still standing at the top spot. While Korea’s OLED market share fell from 98.1 percent in 2016 to 82.8 percent last year, that of China rose from 1.1 percent to 16.6 percent. Considering that the high-end TV market is highly likely to shrink for the time being due to a full-fledged global consumption contraction, some analysts say that the technology gap between Korea and China can be sharply narrowed through this looming TV market slump. According to industry sources, the Chinese government is now focusing on giving subsidies to the development of OLED panel technology rather LCD technology. On the other hand, in Korea, displays were also wiped out from national strategic technology industry items under the Restriction of Special Taxation Act which can receive tax benefits for R&D activities on displays.

LCD manufacturers are mainly located in China, Taiwan, Korea, Japan. Almost all the lcd or TFT manufacturers have built or moved their lcd plants to China on the past decades. Top TFT lcd and OLED display manufactuers including BOE, COST, Tianma, IVO from China mainland, and Innolux, AUO from Tianwan, but they have established factories in China mainland as well, and other small-middium sizes lcd manufacturers in China.

China flat display revenue has reached to Sixty billion US Dollars from 2020. there are 35 tft lcd lines (higher than 6 generation lines) in China,China is the best place for seeking the lcd manufacturers.

The first half of 2021, BOE revenue has been reached to twenty billion US dollars, increased more than 90% than thesame time of 2020, the main revenue is from TFT LCD, AMoled. BOE flexible amoled screens" output have been reach to 25KK pcs at the first half of 2021.the new display group Micro LED revenue has been increased to 0.25% of the total revenue as well.

Established in 1993 BOE Technology Group Co. Ltd. is the top1 tft lcd manufacturers in China, headquarter in Beijing, China, BOE has 4 lines of G6 AMOLED production lines that can make flexible OLED, BOE is the authorized screen supplier of Apple, Huawei, Xiaomi, etc,the first G10.5 TFT line is made in BOE.BOE main products is in large sizes of tft lcd panel,the maximum lcd sizes what BOE made is up to 110 inch tft panel, 8k resolution. BOE is the bigger supplier for flexible AM OLED in China.

As the market forecast of 2022, iPhone OLED purchasing quantity would reach 223 million pcs, more 40 million than 2021, the main suppliers of iPhone OLED screen are from Samsung display (61%), LG display (25%), BOE (14%). Samsung also plan to purchase 3.5 million pcs AMOLED screen from BOE for their Galaxy"s screen in 2022.

Technology Co., Ltd), established in 2009. CSOT is the company from TCL, CSOT has eight tft LCD panel plants, four tft lcd modules plants in Shenzhen, Wuhan, Huizhou, Suzhou, Guangzhou and in India. CSOTproviding panels and modules for TV and mobile

three decades.Tianma is the leader of small to medium size displays in technologyin China. Tianma have the tft panel factories in Shenzhen, Shanhai, Chendu, Xiamen city, Tianma"s Shenzhen factory could make the monochrome lcd panel and LCD module, TFT LCD module, TFT touch screen module. Tianma is top 1 manufactures in Automotive display screen and LTPS TFT panel.

Tianma and BOE are the top grade lcd manufacturers in China, because they are big lcd manufacturers, their minimum order quantity would be reached 30k pcs MOQ for small sizes lcd panel. price is also top grade, it might be more expensive 50%~80% than the market price.

Panda electronics is established in 1936, located in Nanjing, Jiangshu, China. Panda has a G6 and G8.6 TFT panel lines (bought from Sharp). The TFT panel technologies are mainly from Sharp, but its technology is not compliance to the other tft panels from other tft manufactures, it lead to the capacity efficiency is lower than other tft panel manufacturers. the latest news in 2022, Panda might be bougt to BOE in this year.

Established in 2005, IVO is located in Kunsan,Jiangshu province, China, IVO have more than 3000 employee, 400 R&D employee, IVO have a G-5 tft panel production line, IVO products are including tft panel for notebook, automotive display, smart phone screen. 60% of IVO tft panel is for notebook application (TOP 6 in the worldwide), 23% for smart phone, 11% for automotive.

Besides the lcd manufacturers from China mainland,inGreater China region,there are other lcd manufacturers in Taiwan,even they started from Taiwan, they all have built the lcd plants in China mainland as well,let"s see the lcd manufacturers in Taiwan:

Innolux"s 14 plants in Taiwan possess a complete range of 3.5G, 4G, 4.5G, 5G, 6G, 7.5G, and 8.5G-8.6G production line in Taiwan and China mainland, offering a full range of large/medium/small LCD panels and touch-control screens.including 4K2K ultra-high resolution, 3D naked eye, IGZO, LTPS, AMOLED, OLED, and touch-control solutions,full range of TFT LCD panel modules and touch panels, including TV panels, desktop monitors, notebook computer panels, small and medium-sized panels, and medical and automotive panels.

AUO is the tft lcd panel manufacturers in Taiwan,AUO has the lcd factories in Tianma and China mainland,AUOOffer the full range of display products with industry-leading display technology,such as 8K4K resolution TFT lcd panel, wide color gamut, high dynamic range, mini LED backlight, ultra high refresh rate, ultra high brightness and low power consumption. AUO is also actively developing curved, super slim, bezel-less, extreme narrow bezel and free-form technologies that boast aesthetic beauty in terms of design.Micro LED, flexible and foldable AMOLED, and fingerprint sensing technologies were also developed for people to enjoy a new smart living experience.

Hannstar was found in 1998 in Taiwan, Hannstar display hasG5.3 TFT-LCD factory in Tainan and the Nanjing LCM/Touch factories, providing various products and focus on the vertical integration of industrial resources, creating new products for future applications and business models.

driver, backlight etc ,then make it to tft lcd module. so its price is also more expensive than many other lcd module manufacturers in China mainland.

Maclight is a China based display company, located in Shenzhen, China. ISO9001 certified, as a company that more than 10 years working experiences in display, Maclight has the good relationship with top tft panel manufacturers, it guarantee that we could provide a long term stable supply in our products, we commit our products with reliable quality and competitive prices.

Maclight products included monochrome lcd, TFT lcd module and OLED display, touch screen module, Maclight is special in custom lcd display, Sunlight readable tft lcd module, tft lcd with capacitive touch screen. Maclight is the leader of round lcd display. Maclight is also the long term supplier for many lcd companies in USA and Europe.

If you want tobuy lcd moduleorbuy tft screenfrom China with good quality and competitive price, Maclight would be a best choice for your glowing business.

Flat-panel displays are thin panels of glass or plastic used for electronically displaying text, images, or video. Liquid crystal displays (LCD), OLED (organic light emitting diode) and microLED displays are not quite the same; since LCD uses a liquid crystal that reacts to an electric current blocking light or allowing it to pass through the panel, whereas OLED/microLED displays consist of electroluminescent organic/inorganic materials that generate light when a current is passed through the material. LCD, OLED and microLED displays are driven using LTPS, IGZO, LTPO, and A-Si TFT transistor technologies as their backplane using ITO to supply current to the transistors and in turn to the liquid crystal or electroluminescent material. Segment and passive OLED and LCD displays do not use a backplane but use indium tin oxide (ITO), a transparent conductive material, to pass current to the electroluminescent material or liquid crystal. In LCDs, there is an even layer of liquid crystal throughout the panel whereas an OLED display has the electroluminescent material only where it is meant to light up. OLEDs, LCDs and microLEDs can be made flexible and transparent, but LCDs require a backlight because they cannot emit light on their own like OLEDs and microLEDs.

Liquid-crystal display (or LCD) is a thin, flat panel used for electronically displaying information such as text, images, and moving pictures. They are usually made of glass but they can also be made out of plastic. Some manufacturers make transparent LCD panels and special sequential color segment LCDs that have higher than usual refresh rates and an RGB backlight. The backlight is synchronized with the display so that the colors will show up as needed. The list of LCD manufacturers:

Organic light emitting diode (or OLED displays) is a thin, flat panel made of glass or plastic used for electronically displaying information such as text, images, and moving pictures. OLED panels can also take the shape of a light panel, where red, green and blue light emitting materials are stacked to create a white light panel. OLED displays can also be made transparent and/or flexible and these transparent panels are available on the market and are widely used in smartphones with under-display optical fingerprint sensors. LCD and OLED displays are available in different shapes, the most prominent of which is a circular display, which is used in smartwatches. The list of OLED display manufacturers:

MicroLED displays is an emerging flat-panel display technology consisting of arrays of microscopic LEDs forming the individual pixel elements. Like OLED, microLED offers infinite contrast ratio, but unlike OLED, microLED is immune to screen burn-in, and consumes less power while having higher light output, as it uses LEDs instead of organic electroluminescent materials, The list of MicroLED display manufacturers:

LCDs are made in a glass substrate. For OLED, the substrate can also be plastic. The size of the substrates are specified in generations, with each generation using a larger substrate. For example, a 4th generation substrate is larger in size than a 3rd generation substrate. A larger substrate allows for more panels to be cut from a single substrate, or for larger panels to be made, akin to increasing wafer sizes in the semiconductor industry.

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LG Display saw a decrease in panel shipments in the fourth quarter due to worsening macroeconomic conditions, as set makers’ inventory adjustments further impacted demand in the high-end product sector which had been solid.

The company recorded a quarter-on-quarter increase in revenues by 8% thanks to increased panel shipments for mobile devices, while reporting an operating loss due to a continuous decline in mid-sized panel prices and a high-intensity action plan of utilization adjustment to decrease inventory.

Panels for TVs accounted for 25% of revenues in the fourth quarter, while panels for IT devices including monitors, laptops and tablet PCs accounted for 34%, panels for mobile and other devices accounted for 34%, and those for automobiles accounted for 7%.

LG Display will make all-out efforts to improve the financial structure by strengthening its operations focusing on market-to-order business in response to market volatility and economic uncertainty.

With respect to the market-to-order business which now accounts for 30% of its revenue, LG Display will expand its share in revenue by over 40% in 2023 and 50% in 2024 to establish a stable profit structure resilient to market conditions. In addition, the company will further strengthen its position in the automotive display sector and continue to lead the mid-sized OLED market including tablet PCs, as the rise in smartphone panel shipments in the second half of 2023 is expected to add positive fuel to its efforts to enhance its market-to-order business.

After the company’s decision to end its LCD TV panel production in Korea, LG Display"s large-sized OLED business was evaluated by an external institution and divided into separate cash-generating unit in accordance with related accounting standards and objective procedures. The company’s large-sized OLED business was reflected KRW 1,331 billion as asset impairment loss after calculated by an external institution, causing the net loss to expand. Considering it occurred only in the financial statement without actually affecting business operations, it is in turn expected to remove possible uncertainties in the company’s businesses in the future.

For its large-sized OLED business, LG Display will further strengthen its profit structure by improving competitiveness in products and costs while concentrating continuously on qualitative growth. In addition, the company will make efforts to enhance its market position by further improving its fundamental competitiveness with its OLED technology, as well as expanding its market-creating business with high growth potential such as Transparent and Gaming OLED panels.

LG Display will also secure financial soundness by minimizing its investment such as investing only in essential and market-to-order businesses, while maintaining its inventory at the minimum level and flexibly adjusting production accordingly.

“Our preemptive move to reduce the company’s inventory in the fourth quarter is expected to improve our performance down the road, and the quarterly result is also expected to improve as we continue to intensely reduce our costs,” said Sung-hyun Kim, CFO and Senior Vice President at LG Display.

LG Electronics (LG) has received the Supply Chain Guarantee Award from SAIC General Motors (SAIC-GM), the joint venture between the General Motors Company (GM) and China’s largest automaker, SAIC Motor. The accolade burnishes LG’s growing reputation as a reliable auto industry partner, and follows on from the company’s success at GM’s 30th Annual Supplier of the Year awards early this year where it was recognized with an Overdrive Award.

The Supply Chain Guarantee Award from SAIC-GM is a distinction given to suppliers who have made significant contributions to the company over the course of the year. Despite the ongoing global semiconductor shortage, LG has continued to supply vehicle parts to SAIC-GM and other global automakers in timely, with efficient supply chain management. The award from SAIC-GM acknowledges LG’s prolonged risk management capabilities and effectiveness in addressing issues related to the on-time delivery of key components for vehicle manufacturing.

A recognized provider of innovative mobility solutions, LG has a long-standing relationship with GM, having worked closely with the automaker for nearly two decades, including on its joint venture with SAIC Motor. LG has collaborated with GM on numerous results over the years, delivering optimized solutions for the company’s various brands and helping it to overcome a range of technological and design challenges. The strong partnership began in the early 2000s when GM chosen LG to supply automotive telematics systems.

LG is continuously assessing and refining its processes and systems. The company is a leader in the adoption of automated validation methods based on artificial intelligence (AI) and machine learning and is dedicated to creating greater efficiencies across all operational areas, from R&D and production to supply chain management. As a result of these efforts, and its many successes as a supplier, LG has become a sought-after collaborator by automakers the world over, including in China.

LG and its sister companies have received multiple honors from GM over the course of the past several years. Together with LG Chem, LG won GM’s Supplier of the Year Award in 2014, the Overdrive Award in 2016 and the Innovation Award in 2017. Additionally, LG and LG Display jointly received the Innovation Award in 2020. The company will continue to draw on the diverse strengths of its LG Group siblings to introduce new mobility innovations in the future.

Reports from Korean media suggest the company will drastically cut back on its input of glass substrates at its LCD assembly lines in Paju, South Korea and Guangzhou, China, slashing LCD TV panel output by more than 10% in the second half of the year compared to the first six months.

The company’s cross-town rival Samsung Display has already announced plans to quit the LCD TV panel business completely by the end of the year, due to worsening profitability.

Both companies have faced significant competition from Chinese rivals that are able to churn out large quantities of LCD TV panels at more competitive prices, pushing market prices down. Neither LG Display nor Samsung Display can match those rivals due to the higher costs they face.

Omdia reported recently that the average 55-inch LCD TV panel price declined by 30% from six months ago to just $105 in April. It has also forecast a further price decline this month.

“It is getting harder to manufacture LCD panels above production costs amid intensified competition with Chinese companies,” an anonymous source told the Korea Economic Daily. “Samsung is giving up its LCD panel development and production because it sees panel price declines are not temporary.”

Chinese manufacturers, led by BOE Technology Group and China Star Optoelectronics Technology (CSOT) have been rapidly increasing their market share in the LCD TV panel industry. At the end of last year, BOE was positioned as the world’s leading LCD TV panel maker with a 26.3% market share, KED reported.

The Korean firms are instead switching their focus to OLED display panels, where they have a technological advantage over their Chinese competitors. Data from Omdia shows that LG Display commands 99.7% of the OLED TV panel market, with Samsung Display having the remaining 0.3%.

LG Display has been accelerating OLED TV panel production for years, adding new panel sizes to its output such as the new 42-inch displays it launched this year.

Samsung Display is more competitive in the small-sized OLED panel market, producing displays for smartphones and laptops. However, it is aiming to take on LG in the OLED TV display market with the launch of its new QD-OLED TV panels this year.