LG Display transfers 8.5-gen LCD plant in Guangzhou to TCL CSOT for $1.52 billion

LG Display, the South Korean display panel maker, on Tuesday transferred its 8.5-gen LCD (Liquid Crystal Display) production line and module factory in Guangzhou to the Chinese firm TCL CSOT (China Star Optoelectronics Technology), which has renamed the facility T11. This transaction expands TCL CSOT’s production capabilities to nine LCD lines, including two 6-gen, four 8.5-gen, one 8.6-gen, and two 10.5-gen lines. The sale, valued at 2.03 trillion KRW (around $1.52 billion), was approved by LGD’s board last September and is part of the firm’s plan to focus more on OLED (Organic Light-Emitting Diode) technology. TCL CSOT noted that the two facilities have strong overall profitability, with net profits of RMB 602 million ($84.28 million) and RMB 536 million ($75.04 million) in 2023. [Icsmart, in Chinese]