LG Display Begins Administrative Procedures for Sale of Guangzhou LCD Factory in China

LG Display has entered administrative procedures to sell its LCD factory in Guangzhou, China, which produces liquid crystal display (LCD) panels for TVs.

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According to industry sources on the 8th, LG Display recently began consultations with the Ministry of Trade, Industry and Energy to undergo the review process related to the sale of the Guangzhou LCD factory.

This is part of LG Display's strategy to advance its business structure centered on organic light-emitting diode (OLED) technology.

Potential buyers in the factory sale negotiations include China's largest display manufacturer BOE, China electronics company TCL's display subsidiary China Star Optoelectronics Technology (CSOT), and China electronics company Skyworth.

It is reported that these companies, along with 4 to 5 financial investors (FIs), have submitted letters of intent (LOIs) to LG Display.

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