South Korean LCD manufacturer LG Display has announced that it will invest over USD3 billion to build a Guangzhou-based LCD flat-panel plant, which will be the company's first LCD flat-panel factory in China.
LG Display has reportedly signed a non-binding memorandum of understanding with the municipal government of Guangzhou for this new project, in which LG Display will introduce its advanced eighth-generation LCD technology to enable the production of 50-inch LCD televisions in this plant.
According to a spokesperson from LG Display, the construction of a new plant will take at least two years and and the financing needs may be re-evaluated later. In addition, the project still needs the approval of LG Display's board of directors.
LG Display currently has two LCD module factories in China, making flat displays for LCD televisions and notebooks.