LG Display decides to sell Guangzhou 8.5-generation LCD factory to TCL Huaxing

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News from this site on August 14. According to Business Korea’s report on the 13th, LG Display has decided to sell its 8.5-generation Guangzhou LCD factory to China Star Optoelectronics Technology Co., Ltd. (TCL), a subsidiary of TCL Technology. CSOT), a move that is expected to reshape the global display market.

As of this year, CSOT’s market share (based on production capacity) is 19.7%. Through the acquisition of LG Display’s Guangzhou factory, its market share is expected to increase to 23.9%by2026. Combined with BOE's 27.0% market share, the two Chinese companies would together account for half of the market share.

In contrast, this move may cause LG Display’s LCD market share this year to drop from 6.2%to 4.2%in 2023, and is expected to dropto 1.8%in 2027.

This is in sharp contrast to the 55% market share held by Samsung Display and LG Display combined in 2011, and Samsung Display has completely exited the LCD business in 2022.

According to previous reports on this site, LG Display issued an announcement earlier this month to explain the relevant content of "LGD accelerates the sale of Chinese factories..." reported by the Korea Economic Daily in February this year. The company has selected TCL CSOT Technology Co., Ltd. will start exclusive negotiations as the preferred bidder for its stake in the LCD factory in Guangzhou, China.

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