LG Display says industry has hit bottom

Will focus on high-end LCDs for mobile devices


20 January 2009 11:39 GMT / By Amy-Mae Elliott

The LCD industry has hit bottom, the boss of LG Display Co Ltd said.

The South Korean company has reported its worst-ever quarterly loss, not helped by the hundreds of millions of dollars it had to pay in fines for price-fixing.

"The good news is that we've reached a bottom", chief executive Kwon Young-soo told reporters.

But Young-soo says TV panel prices are due to recover in coming months on "solid demand" for small-sized flat screen TVs.

In the meantime, LG Display is to invest over $400 million in a new production line to make high-end, "premium", LCD screens for mobile devices.
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