In the large-size LCD panel market, South Korea's Samsung and LG were once the world's largest manufacturers. In recent years, due to the rise of domestic LCD panels and the rapid price reduction of LCDs, Samsung and LG can no longer hold on. Recently, there was news that LG will withdraw from the LCD panel market, but the company denied it and said it would compete with Chinese manufacturers and other rivals in a differentiated way.
In fact, LG has expressed the idea of shutting down its LCD business before. The company has previously proposed to shut down its Korean LCD panel factory by the end of 2020, and its invested Guangzhou panel factory in China is also considering reducing production capacity or increasing OLED panel production capacity.
However, starting from the second half of 2020, the price of LCD panels has turned from falling to rising, and LG's attitude has also changed. The LCD factory that was originally planned to be closed at the end of last year has a way out, and at least there is no need to consider stopping production now.
In the long run, LCD panels will still have a price reduction cycle, but LG has stated that it will engage in differentiated competition in the LCD market and is currently adjusting its LCD production lines. The LCD factories originally used to produce televisions will switch to producing LCD panels for IT equipment.
In addition, LG also plans to reduce its LCD battery panel production by half and focus on producing higher-profit commercial and large-size devices.
LG said that in order to address the long-standing concern about profitability in the LCD panel market, it will ensure profitability by adjusting its P7 factories in South Korea and Guangzhou, China.
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