1 week Ago By David Richards
Struggling OLED TV manufacturer LG Display who is facing a battle with Chinese LED TV manufacturers has officially sold its last remaining LCD TV panel factory to China’s TCL CSOT with the deal closed late last week. The move bolsters TCL who are using their mini LED technology to grow market share up against LG’s OLED technology that is also under threat, from arch rival Samsung who has increased their share of the OLED TV market to 23% up from 3% in 2022. LG Display who needed the money from the sale of their China based factory to bolster their balance sheet pocketed A$2.
3 billion, the sale leaves LG without an LCD manufacturing presence in China with Chinese manufacturers now dominating the global LCD market. Chinese manufacturers of LCD TV panels, such as BOE, TCL CSOT and HKC, now control over 70% of global production capacity, up from 65% last year. TCL said that they will rename the 8.
5-generation factory ‘T11’ and begin full-scale production immediately. With the acquisition, TCL now operates two 6-generation LCD production lines, four 8.5-generation lines, one 8.
6-generation line, and two 10.5-generation lines. According to TrendForce, TCL’s share of large-size LCD panel production, by area, has increased from 19.
3% to 22.9%. LG Display is set to continue manufacturing small LCD panels for IT devices in South Korea.
For consumers, this means that LG TVs, now has to source the same display panels found in TVs from brands like TCL and Hisense from Chinese manufacturers such as TCL..
