LCD panel oversupply unlikely this year: LG Display CEO

By Lee Youkyung
SEOUL, Jan. 21 (Yonhap) -- The liquid crystal display (LCD) panel industry is
unlikely to face a panel oversupply this year as the outlook for TV demand
remains strong, the head of South Korea's LG Display Co. has said.
"We had concerns about a panel oversupply in the first quarter, but it turned out
there is a shortage due to unexpected demand," Kwon Young Soo, chief executive of
LG Display, told reporters late Wednesday. "There appears to be no possibility of
a supply glut within this year."
The LCD industry made a fast rebound after a severe slowdown in 2008, helped by
demand for televisions and a recovery in panel prices.
LG Display swung back into the black last quarter compared with a year earlier,
posting 478 billion won (US$420 million) in net profit thanks to panel price
gains and solid demand for TVs. LG is the world's second-largest flat-panel
maker, after local rival Samsung Electronics Co.
Kwon added that the spread of three-dimensional (3D) televisions may create extra
demand for TVs as top global manufacturers like Sony Corp., Samsung Electronics
Co. and affiliate LG Electronics Inc. are set to release new products.
"If 3D (TVs) can generate more interest among consumers, there is the possibility
of additional TV demand," he said. The executive's comments were embargoed until
Thursday.
LG also recently developed a flexible, 19-inch display that could be used for
electronic reading devices. The company is "in talks with" a foreign newspaper
company on electronic paper business opportunities, Kwon added.
ylee@yna.co.kr
(END)