SEOUL (Reuters) - LG Display Co Ltd, the world's No. 2 maker of liquid crystal display (LCD) screens, said on Sunday it would cut its panel output by around 10 percent until August because of weakening global demand.
South Korea-based LG Display joins Taiwan rivals AU Optronics Corp and Chi Mei Optoelectronics Corp in the move to reduce production and ease an oversupply as market conditions deteriorate faster than expected.
“The output reduction will be around 10 percent level," an LG Display spokesman said. “The utilization rate should rise again from September."
The company did not give the estimated financial impact of the reduction.
Leading LCD makers have reaped strong profits in the first half but face a steep slowdown in the coming quarters as the global downturn hits demand for flat-screen TVs and personal computers.
South Korea-based LG Display joins Taiwan rivals AU Optronics Corp and Chi Mei Optoelectronics Corp in the move to reduce production and ease an oversupply as market conditions deteriorate faster than expected.
“The output reduction will be around 10 percent level," an LG Display spokesman said. “The utilization rate should rise again from September."
The company did not give the estimated financial impact of the reduction.
Leading LCD makers have reaped strong profits in the first half but face a steep slowdown in the coming quarters as the global downturn hits demand for flat-screen TVs and personal computers.
