TVs are selling wildly, and LCD panel prices have soared by 30%! LGD South Korea production line is reported to be postponed to stop production
The demand for liquid crystal (LCD) TV panels is booming, with prices rising by as much as 30% in the third quarter. South Korean giant LG Display (LGD) is looking profitable, and it is rumored that the company’s South Korean LCD panel production line has delayed cutting cards.
The Korean media etnews reported on the 8th that in January this year, LGD announced that the company’s LCD TV panel production line in South Korea will be completely discontinued by the end of this year. Industry news now reveals that LGD's attitude has taken a sharp turn, and the suspension of production lines in South Korea has been postponed by one year. This decision has been notified to partners and related companies.
At the beginning of this year, LGD decided to stop the Korean production line in order to shift the main production force to OLED. Chinese companies are rushing to market at low prices, forcing LGD to switch to high-priced OLED products. However, the outbreak of the epidemic has changed LGD's view. The new crown pneumonia is raging and people spend more time at home. The demand for home entertainment has soared, which has boosted TV buying. The global TV market has improved significantly, prompting LGD to revise its decision.
Recently, LCD TV panel prices have soared. TrendForce data shows that LCD panel prices have soared by 30% in the third quarter. Moreover, Samsung Display, a panel manufacturer of Samsung Electronics, withdrew from the LCD business, making the supply shortage worse.
Industry: The proportion of LGDOLED business will surpass LCD for the first time this year
As LGD extends LCD production, it will continue to develop OLED business. Pulse reported on the 5th that outsiders estimate that LGD's OLED TV panel revenue this year will surpass LCD for the first time. Omdia predicts that LGD’s OLED panel revenue this year will account for 55% of the total TV panel revenue, which is higher than last year’s 33%.
YuantaSecuritiesKorea also estimates that LGD’s LCD for Samsung TV panel revenue will reach 3.5 trillion won (approximately US$3.01 billion) this year, which is higher than the 3.4 trillion won of LCD TV panels. The brokerage predicts that next year LGD’s OLED sales will reach 5.2 trillion won and LCD sales will continue to fall to 2.8 trillion won.
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