[Alpha Biz=(Chicago) Reporter Paul Lee] LG Display has decided to sell its liquid crystal display (LCD) equipment to a domestic company. With the sale of idle facilities following the withdrawal of the LCD business, LG Display is speeding up its financial structure.
According to the industry on the 12th, LG Display is planning to sell Paju P7 LCD equipment. P7 is where large LCD panels for TV were produced. LG Display stopped operating P7 at the end of last year to change its business structure around organic light-emitting diodes (OLEDs).
South Korean companies are moving toward acquiring LG Display's equipment. The acquisition company is expected to use the equipment to promote the new business. The sale price of the equipment is estimated at hundreds of billions of won. The sale and acquisition are expected to be completed within the second quarter.
Once the final contract is made, LG Display is expected to improve its financial structure and restructure its business.
LG Display is aiming to turn into a surplus in the second half of this year.
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