LG Display

LG Display (Korean: LG 디스플레이) 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.

LG Display
LG디스플레이
TypePublic
IndustryElectronics
Founded1999 (1999)
Headquarters
Seoul
,
South Korea
Key people
Sang-Beom Han (Chief Executive Officer)
ProductsTFT-LCD panels, OLEDs, Flexible displays
Revenue US$20.01 billion (2018)
US$76.45 million (2018)
-US$147.138 million (2018)
Number of employees
32,603 (2019)
ParentLG Corporation
Websitehttp://www.lgdisplay.com/
LG Display
Hangul
LG디스플레이
Revised RomanizationLG Diseupeullei
McCune–ReischauerLG Tisŭp'ŭllei
Former logo of LG.Phillips LCD

History

LG Display was originally formed as a joint venture by the Korean electronics company LG Electronics and the Dutch company Philips 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.[1] 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.[2] 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..[3] LG Display has said it is considering appealing the fine.[4]

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[5][6] 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.[7]

See also

References
  1. "LG Display shares drop 5.4 percent on Philips stake sale". Reuters. 12 March 2009.
  2. Aoife White (8 December 2010). "LCD-Panel Makers Fined $649 Million by European Union for Price Fixing". Bloomberg News. Retrieved 11 December 2010.
  3. "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 14 November 2013.
  4. "2 LCD giants face contrasting fates". The Korea Times. 9 December 2010. Retrieved 11 December 2010.
  5. Frieden, Terry; Producer, Justice (12 November 2008). "$585 million LCD price-fixing fine". CNN.
  6. "#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 25 March 2012.
  7. "LCD Makers Will Plead Guilty in Price-Fixing Scheme (Update2)". Bloomberg News. 12 November 2008.
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