LG display to spend 833bn won for smartphone panels

LG Display Co., a South Korean panel maker, said Friday that it plans to spend a total of 833 billion won (US$752 million) to expand its facilities in the country to meet the growing demand for liquid crystal display (LDC) panels used for smartphones. In a statement, LG Display said the investment will be for the establishment of a production line in Gumi, 261 kilometers southeast of Seoul, for the sixth-generation LCD panels. The new LCD line will start production during the third quarter of next year and generate around 9 inch or smaller 600,000 panels a month. LG Electronics Inc., the world's third-largest smartphone maker, unveiled its latest high-end smartphone, the LG G2 earlier this month.