LG Display signed a 2 trillion won ($1.5 billion) deal to sell its entire stake in a large LCD plant in Guangzhou, China, the company said in a regulatory filing, Thursday. Selling the plant is seen as a crucial step in improving LG Display's asset ...

SEOUL (Reuters) -South Korea's LG Display said on Thursday it had agreed to sell its stake in its large liquid crystal display (LCD) plant in Guangzhou, China, to TCL's LCD unit CSOT for 10.8 billion yuan ($1.54 billion).

TCL plans to acquire 80% of LG Display China and 100% of LG Display Guangzhou, boosting its LCD market share and production, expected to close by 2025.

Once a thriving business to replace the traditional CRT displays from the top of our desks, the LCD technology is seemingly now a liability for South Korean companies like LG and Samsung. This week LG Display inked a deal to sell its China-based LCD plant in a bid to focus on it more profitable OLED business,

To combat Chinese companies and satisfy future OLED demand, South Korea-based manufacturers Samsung Display (SDC) and LG Display (LGD) are expediting their investments in 8.6G IT OLEDs. Additionally,

LG Display has agreed to sell its majority stake in a Guangzhou-based LCD plant to TCL’s CSOT division for 10.8 billion yuan ($1.54 billion). The sale covers LG Display’s 80% stake in its large LCD panel plant and 100% of its LCD module facility,