LG Display

LG Display
LG디스플레이
Public
Traded as
Industry Electronics
Founded 1999 (1999)
Headquarters Seoul, South Korea
Key people
 Sang-beom Han (Chief Executive Officer)
Products TFT-LCD panels, OLEDs, Flexible displays
Revenue Decrease US$25.55 billion (2015)
Increase US$1.29 billion (2015)
Increase US$921.11 million (2015)
Number of employees
 49,000 (2015)
Parent LG Corporation
Website http://www.lgdisplay.com/
LG Display
Hangul LG디스플레이
Revised Romanization LG Diseupeullei
McCune–Reischauer LG Tisŭp'ŭllei
Former logo of LG.Phillips LCD

LG Display (Korean: LG 디스플레이) is the world's largest LCD panel maker.[1] LG Display is one of the world's largest manufacturer and supplier of thin-film transistor liquid crystal display (TFT-LCD) panels, OLEDs and flexible displays. LG Display is headquartered in Seoul, South Korea and currently operates nine fabrication facilities and seven back-end assembly facilities in Korea, China, Poland and Mexico.

History

LG Display was originally formed as a joint venture by the Korean electronics company LG Electronics and the Dutch company Koninklijke Philips Electronics in 1999 to manufacture active matrix liquid crystal displays (LCDs) and was formerly known as LG.Philips LCD, but Philips sold off all its shares in late 2008.[2] Both companies also had another joint venture, called LG.Philips Displays, dedicated to manufacturing Cathode ray tubes, Deflection yokes, and related materials such as glass and phosphors.

On 12 December 2008, LG.Philips LCD announced its plan to change its corporate name to LG Display upon receiving approval at the company's annual general meeting of shareholders on 29 February. The company claimed the name change reflects the company's business scope expansion and business model diversification, the change in corporate governance following the reduction of Philips' equity stake, and LG's commitment to enhanced responsible management.

The company has eight manufacturing plants in Gumi and Paju, South Korea. It also has a module assembly plant in Nanjing and Guangzhou in China and Wroclaw in Poland.

LG Display became an independent company in July 2004 when it was concurrently listed on the New York Stock Exchange (NYSE: LPL) and the South Korean Stock Exchange (KRX: 034220).

They are one of the main licensed manufacturers of the more color-accurate IPS panels used by Dell, NEC, ASUS, Apple (including iMacs, iPads, iPhones, iPod touches) and others, which were developed by Hitachi.

LCD price fixing

In December 2010, the EU fined LG Display €215 million for its part in an LCD price fixing scheme.[3] Other companies were fined for a combined total of €648.9 million, including Chimei Innolux, AU Optronics, Chunghwa Picture Tubes Ltd., and HannStar Display Corp..[4] LG Display has said it is considering appealing the fine.[5]

This followed the 2008 case in the US, when LG Display Co., Chunghwa Picture Tubes and Sharp Corp., agreed to plead guilty and pay $585 million in criminal fines[6][7] for conspiring to fix prices of liquid crystal display panels.

LG Display would pay $400 million, the second-highest criminal fine that the US Justice Department antitrust division had ever imposed. Chunghwa would pay $65 million for conspiring with LG Display and other unnamed companies and Sharp would pay $120 million, according to the department.[8]

See also

References

  1. ↑ "Large-Area TFT LCD Shipments Grow 26% Y/Y in 2010, Reaching 665 Million". DisplaySearch. 14 February 2011.
  2. ↑ "LG Display shares drop 5.4 percent on Philips stake sale". Reuters. 12 March 2009.
  3. ↑ Aoife White (8 December 2010). "LCD-Panel Makers Fined $649 Million by European Union for Price Fixing". Bloomberg News. Retrieved 2010-12-11.
  4. ↑ "EUROPA - PRESS RELEASES - Press release - Joaquín Almunia Vice President of the European Commission responsible for Competition Policy Press conference on LCD cartel, Visa and French chemists' association decisions Press conference Brussels, 8 December 2010". Europa.eu. Retrieved 2013-11-14.
  5. ↑ "2 LCD giants face contrasting fates". The Korea Times. 9 December 2010. Retrieved 2010-12-11.
  6. ↑ Frieden, Terry; Producer, Justice (12 November 2008). "$585 million LCD price-fixing fine". CNN.
  7. ↑ "#08-1002: LG, Sharp, Chunghwa Agree to Plead Guilty, Pay Total of $585 Million in Fines for Participating in LCD Price-fixing Conspiracies (2008-11-12)". Justice.gov. Retrieved 2012-03-25.
  8. ↑ "LCD Makers Will Plead Guilty in Price-Fixing Scheme (Update2)". Bloomberg News. 12 November 2008.
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