LG Display considers converting Paju LCD panel production line to OLED TV panel production line

Core tip: LG Display currently produces LCD TV panels at its P7 production line in Paju, South Korea. The source said it is highly likely that the company will convert the production line to OLED TV panels in the future.
LG Display is willing to convert its liquid crystal display (LCD) TV production line in South Korea to one dedicated to OLED, the CEO said on Wednesday.

LG Display CEO Jeong Ho-young told reporters that it will take some time to consider when to convert LCD lines to OLED lines.

Existing LCD production lines have the ability to be converted to make TV OLED panels or IT OLED panel production lines, Jeong said.

LG Display said on its second-quarter conference call in July that it was downsizing its LCD TV production line.

The company said it will stop producing LCD TV panels in South Korea by 2023 at the latest.

LG Display currently produces LCD TV panels at its P7 production line in Paju, South Korea.

The source said it is highly likely that the company will convert the production line to OLED TV panels in the future.

Regarding LG Display's outlook for the second half of 2022, Jeong said he expected a period of adjustment due to the unfavorable economic situation.

He expects a tough third quarter and an improvement in the fourth quarter.

Regarding the generally high inventory levels among display panel makers, the CEO said this was mainly due to the shutdown of factories in Shanghai in the second quarter and should be considered a temporary problem.