LG Show has determined to cease manufacturing of liquid crystal show (LCD) TV panels for the Korean market by subsequent yr.
The corporate introduced on July 27 that it racked up 5.6 trillion gained in gross sales and 488.3 billion gained in working loss within the second quarter. Its gross sales descended by 19.5 % in comparison with the identical interval of the earlier yr, and its earnings swung to a loss for the primary time in two years for the reason that second quarter of 2020.
LG Show defined that product shipments fell in need of its authentic goal as China prolonged metropolis lockdowns attributable to COVID-19.
The corporate determined to cease producing low-margin LCD panels for the home TV market to beat deteriorating show trade circumstances. Its Chinese language LCD plant additionally determined to transform a few of its TV panel traces to IT gadgets. LG Show plans to deal with natural mild emitting diode (OLED) panels within the second half of this yr.