LG Display to cut LCD output by 10 percent due to low demand
LG Display announced on Sunday that it will cut LCD output by 10 percent by August and joined the global trend among liquid crystal display panel manufacturers of scaling down production. Taiwanese LCD makers CPT, CMO and AUO have led the production cuts in recent days as IT firms are reducing LCD panel orders on low demand in the second half, which is lowering panel prices. An LG Display official cited concerns about excess supply in July and the summer slow season in August in North America and Europe. He said the decision is in line with the company’s principle of flexibility in addressing global market situations.
Samsung Electronics said Thursday that it is keeping an eye on the market situation but has no plan to cut production for the time being.