LG Display to Cut Jobs after Shifting Its Focus from LCD to OLED

LG Display has confirmed its plan to cut jobs through voluntary retirement as the company intends to shift its product portfolio from LCD display to OLED display which requires less production workforce, reported Reuters.

(Image: LG Display)

The falling panel price resulting from Chinese competition has led to continuous quarterly losses for the Korean panel maker. LG Display has thus announced that it would slash its investment plans by US$ 2.7 billion to 2020 and move its business focus from LCD to OLED. The company has taken another big move by cutting down employees in production which account for 65 percent of its workforce to intensify its strategy targeting OLED panels which can be produced automatically and requires fewer personnel.

According to the report of Reuters, LG Display would begin to receive the applications of voluntary retirement in October but the target size of the voluntary redundancy has not been decided yet.

Korean panel makers including Samsung and LG used to be big players in the LCD market. Since they both decreased their LCD businesses, other panel makers from Taiwan and China are expected to take over their market share. Chinese company BOE has surpassed LG Display to become the top LCD TV panel supplier in 1H18. On the other hand, Taiwan-based Innolux and AUO have continued to target the high-end panel market including large size TVs and automotive displays. They have also announced their strategy to boost Mini LED and Micro LED technology development in order to compete with OLED.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

Seoul Semiconductor's future vehicle display LED technology unveiled at SID (Graphic: Seoul Semiconductor) SEOUL, South Korea--(BUSINESS WIRE)--Seoul Semiconductor (KOSDAQ:046890), a global optical semiconductor company, will participate i... READ MORE

ALIYOS™ technology pushes boundaries of multi-segmented area lighting and enables customization of light emission patterns Characteristics such as transparency, thinness, 2.5D bendability and freedom to create new lighting effects enable... READ MORE