LG Display, a leading manufacturer of display screens under the LG umbrella, has disclosed that the company has agreed to sell a factory in China to TCL, a company within the LG group, for a staggering 2 trillion won or approximately 4.9 billion baht. This sale is part of the business restructuring plan.
The factory being sold to TCL produces LCD screens and related components, located in Guangzhou. LG holds an 80% stake in the LCD manufacturing facility and a full 100% stake in the component manufacturing facility.
LG stated that the sale of this factory is in line with the company’s strategy to exit the highly competitive LCD display market and shift focus towards the OLED display market, which is seen as having significant growth potential.
TLDR: LG Display sells factory in China to TCL as part of business restructuring to focus on OLED display market growth.
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