LG Display Cuts LCD Production By 10%
LG did not release financial terms of this reduction that will last until August.
LG Display is cutting its LCD panel output by 10 percent until August, according to Reuters.
The world’s No. 2 maker of LCDs says they are cutting production because of weakening global demand.
“The utilization rate should rise again from September,” an LG Display spokesman told Reuters.
LG did not release the financial impact on this reduction. The report says LG is joining Taiwan rivals AU Optronics and Chi Mei Optoelectronics in reduced production to ease an oversupply of panels until market conditions improve.
AU, the world’s third-ranked LCD producer, says its capacity utilization rate will fall to about 90 percent this quarter, according to the report.
Samsung, the top LCD manufacturer, has ruled out a reduction, saying it has enough panel orders.
HDTV manufacturers are slashing prices by as much as $400 in response to the slow economy.
The North American share of the LCD market is expected to drop, according to DisplaySearch.
DisplaySearch also says OLED TVs will be the fastest-growing application over the next eight years.
Reports have surfaced about LCDs possibly contributing to global warming. Does this have any correlation to the weakening demand for LCDs, or is the economic downturn finally impacting flat-panel TVs?
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Steve Crowe has been writing about technology since 2008. He lives in Belchertown, MA with his wife and daughter. Have a suggestion or a topic you want to read more about? Email Steve at firstname.lastname@example.org
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