LG Display sells Chinese LCD factory to CSOT for 2 trillion won...

On the 26th, LG Display announced that it will sell its Guangzhou plant in China, which produces LCDs for TVs, to CSOT, a subsidiary of China's TCL. The total sale price, combining the shares held by the headquarters and overseas subsidiaries, amounts to approximately 2 trillion won.

LG Display Guangzhou LCD Factory Panorama [Image Source=Yonhap News]

On the same day, LG Display disclosed that it will sell its stake in the large LCD panel production corporation to improve its business structure focused on the OLED business by selling its stake in the Guangzhou plant in China.

The shares to be sold include 51% of LG Display's stake in LG Display China, 8.5% of LG Display China shares held by LG Display Guangzhou, and 100% of LG Display Guangzhou shares held by LG Display. The scheduled disposal date is March 31 of next year.