18 May 2007
LG SHUTTING DOWN PLASMA DISPLAY PLANT
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LG SHUTTING DOWN PLASMA DISPLAY PLANT
Reflecting the cutthroat competition among manufacturers of big-screen TV sets, Korea's LG Electronics announced today (Friday) that it plans to halt production of plasma displays at its oldest plant in Seoul following a record first-quarter loss. Analysts say that LG and other manufacturers have created an oversupply of plasma displays, which are selling at prices so low that leave little room for profit. "LG boosted capacity too quickly trying to get the upper hand, rather than match its pace with industry growth,'' Lee Seung Jun of C.J. Asset Management Co. in Seoul told Bloomberg News.
18/05/2007
