At a recent LG Display press conference, the company's CEO Kwon Young-soo positively stated that the liquid crystal display industry has inevitably "reached a bottom. TV panel prices will likely stop the downward trend and recover."
Meanwhile, analysts expect LCD makers to continue losing money through the first half of 2009 as the demand for electronics declines rapidly on the deepening global downturn. On Friday, LG Display reported the worst quarterly loss in its history. The corporation points to the result rooting from a $400 million dollar price-fixing fine that it incurred last month.
In response, an announcement was made last week that the company would refocus its efforts on high-end mobile displays. Furthermore, LG Display plans to invest 577 billion won ($427 million USD) to build a new production line designed to produce premium LCD screens for mobile devices.
Moreover, the new line will use low temperature polysilicon (LTPS) technology to produce more vivid and lifelike mobile displays. The company ultimate goal is for its investment to secure its foothold in the growing market for smartphone displays, Kwon said. With a position in mobile display manufacturing, LG will be competing directly with Japan's Sharp Corporation and South Korea's Samsung Mobile Display, formerly a part of Samsung SDI Company.