Market Chatter: LG Display to Sell LCD Factory in Guangzhou to TCL Technology Group's Arm

MT Newswires Live08-05

LG Display (KRX:034220) will transfer its liquid crystal display factory in Guangzhou to TCL China Star Optoelectronics Technology (CSOT) as it moves toward focusing on organic light-emitting diode technology, Pulse News reported Friday.

CSOT is the display division of Chinese consumer electronics company TCL Technology Group (SHE:000100), it said.

LG Display chose CSOT as the preferred bidder for its Guangzhou LCD manufacturing subsidiary and will enter exclusive negotiations with them, the report said.

Shares of LG Display fell more than 9% at market close.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (RMB): Â¥10080.00, Change: Â¥-1020.00, Percent Change: -9.19%

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