South Korean LCD panel giant LG Display Co., Ltd. will strength the cooperation with major Chinese TV makers in a bid to raise both shipment and market share of LCD panels with 4K ultra-high definition display technology.
A top executive responsible for product promotion at it for the China region said in an interview days ago that it would strengthen the cooperation with first-tier Chinese TV makers including Skyworth, Konka, and Changhong, an effort to raise both shipment and market share of LCD panels with 4K ultra-high definition display technology.
Available data shows that it saw share in the global LCD panel market reach 29 percent in 2012, ranking No.1. The figure is expected to rise further this year because almost all major TV makers around the globe began launching products with 4K ultra-high definition display panels from the start of this year.
The LG Display executive reiterated that with the help from TV makers, it would seize more share in the global LCD panel market. Thus it would strengthen the cooperation with major Chinese TV makers. It mainly cooperated with those including Skyworth, Konka and Changhong in the Chinese mainland and each of the latter had almost been at a similar level with those leading global brands in terms of both product quality and production capacity. And based on both performance of production capacity of panels of it, they would see brand value be further enhanced as time went by. In the meantime, it would seize more share in the global LCD panel market.
It launched a list of new products recently and driven by this, TV makers including LG, Skyworth, and Konka launched related TV sets in succession. And to a large extent, this indicates that the new products have been well recognized by those TV makers and it is achieving the goal of accelerating the popularity of TV sets with 4K ultra-high definition display panels.
It released financial results for the second quarter of this year in mid July and according to the results, the net profit was KRW 105.3 billion, compared to KRW 112.3 billion a year ago. The operating revenue was KRW 6.6 trillion, representing a yearly fall of 4.9 percent. The operating profit was KRW 365.9 billion, surging up by 53 percent year on year. And of the operating revenue, 51 percent was from TV LCD panels, seven percent was from tablet PC panels, and 10 percent was from mobile equipment panels, each.
