July 15, 2009

LG Display to invest $2.6 bln for flat screens

A promoter shows LCD television panels which use an edge-lit light emitting diode (LED) backlight system
A promoter shows LCD television panels which use an edge-lit light emitting diode (LED) backlight system. South Korea's LG Display Co., one of the world's top LCD panel makers, has announced it would invest 3.27 trillion won (2.6 billion dollars) to meet the growing demand for flat-screen televisions.

South Korea's LG Display Co., one of the world's top LCD panel makers, has announced it would invest 3.27 trillion won (2.6 billion dollars) to meet the growing demand for flat-screen televisions.

The company on Wednesday held a board meeting and approved a plan to expand its LCD display production lines at its plant in Paju, 25 kilometres (16 miles) north of Seoul, it said.

"The company has been experiencing a shortage of 20-30 percent" in its supply to meet swelling demand, the company said in a statement.

It plans to start production at the new facility in the second half of 2010, the statement said.

LG Display and local rival lead the global flat panel screen market.

(c) 2009 AFP

Citation: LG Display to invest $2.6 bln for flat screens (2009, July 15) retrieved 25 March 2023 from https://phys.org/news/2009-07-lg-invest-bln-flat-screens.html
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