LG Display Sells Guangzhou LCD Plant to TCL CSOT for $1.52 Billion
LG Display, a prominent South Korean display panel manufacturer, has officially transferred its 8.5-generation LCD production line and module factory in Guangzhou, China, to TCL CSOT (China Star Optoelectronics Technology). The transaction, valued at approximately 2.03 trillion KRW ($1.52 billion), was approved by LG Display's board last September and marks a strategic shift for the company towards focusing on OLED technology. TCL CSOT has renamed the acquired facility T11, expanding its total production capabilities to nine LCD lines, which now include two 6-gen, four 8.5-gen, one 8.6-gen, and two 10.5-gen lines. This acquisition significantly strengthens TCL CSOT's position in the global display market. According to TCL CSOT, the acquired facilities demonstrated strong profitability in 2023, reporting net profits of RMB 602 million ($84.28 million) and RMB 536 million ($75.04 million) respectively. This deal highlights the ongoing consolidation within the display industry, as traditional LCD manufacturing shifts towards Chinese firms while South Korean companies pivot to higher-value OLED technologies.
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LG Display Sells Guangzhou LCD Plant to TCL CSOT for $1.52 Billion
LG Display, a prominent South Korean display panel manufacturer, has officially transferred its 8.5-generation LCD production line and module factory in Guangzhou, China, to TCL CSOT (China Star Optoelectronics Technology). The transaction, valued at approximately 2.03 trillion KRW ($1.52 billion), was approved by LG Display's board last September and marks a strategic shift for the company towards focusing on OLED technology. TCL CSOT has renamed the acquired facility T11, expanding its total production capabilities to nine LCD lines, which now include two 6-gen, four 8.5-gen, one 8.6-gen, and two 10.5-gen lines. This acquisition significantly strengthens TCL CSOT's position in the global display market. According to TCL CSOT, the acquired facilities demonstrated strong profitability in 2023, reporting net profits of RMB 602 million ($84.28 million) and RMB 536 million ($75.04 million) respectively. This deal highlights the ongoing consolidation within the display industry, as traditional LCD manufacturing shifts towards Chinese firms while South Korean companies pivot to higher-value OLED technologies.
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