South Korea's LG Display Co. will start building its 8.5 generation liquid
crystal display (LCD) plant in China this month in a bid to garner a larger
market share there, company officials said Wednesday.
The world's No.
2 maker of LCD panels will hold a ground-breaking ceremony on May 22 for the
plant in the southern city of Guangzhou, which will mainly produce TV displays,
said the officials at LG Display's China subsidiary.
In December 2010,
LG Display obtained approval from the Chinese government to build an LCD
factory.
LG Display, however, has been delaying ground-breaking on its
Guangzhou factory due to prolonged sluggish demand in the LCD
industry.
The South Korean company has been struggling with a fall in
LCD panel prices in the midst of an uncertain global economy.
It
logged a larger net loss in the first quarter than a year earlier, saying the
poor result was attributable mainly to a temporary production cut.
Net
loss amounted to 129.2 billion won (US$113.3 million) in the January-March
period, compared with the 115.4 billion won deficit tallied a year ago, the
company said earlier.
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