At a recent LG Display press conference, the company's CEO Kwon
Young-soo positively stated that the
liquid crystal display industry has inevitably "reached a bottom. TV panel
prices will likely stop the downward trend and recover."
Meanwhile, analysts expect LCD makers to continue losing
money through the first half of 2009 as the demand for electronics declines
rapidly on the deepening global downturn.
On Friday, LG Display reported the worst quarterly loss in its history. The corporation points to the result rooting
from a $400 million dollar price-fixing
fine that it incurred last month.
In response, an announcement was made last week that the company
would refocus its efforts on high-end mobile displays. Furthermore, LG Display
plans to invest 577 billion won ($427 million USD) to build a new production
line designed to produce premium LCD screens for mobile devices.
Moreover, the new line will use low temperature
polysilicon (LTPS) technology to produce more vivid and lifelike mobile
displays. The company ultimate goal is
for its investment to secure its foothold in the growing market for smartphone
displays, Kwon said. With a position in
mobile display manufacturing, LG will be competing directly with Japan's Sharp
Corporation and South Korea's Samsung Mobile Display, formerly a part of
Samsung SDI Company.
According to CEO of LG Display
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Jon Worrel
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