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LG Display cuts Q4 outlook on sharp decline in LCD demand

LG Display cuts Q4 outlook on sharp decline in LCD demand

LG Display has cut its outlook for the current quarter after seeing a sharp decline in demand for LCD panels and a bigger than expected drop in their price.

LG Display has cut its outlook for the current quarter after seeing a sharp decline in demand for LCD (liquid crystal display) panels and a bigger than expected drop in their price.

The company still expects demand to increase from the third quarter but growth is now expected to be in the single low-digit percentage range. It had been forecasting a percentage jump in the low to mid-teens. Prices are down by the low twenties percentage from the third quarter, it said in a statement.

Production has already been scaled back in light of the lower-than-anticipated demand, it said.

LG Display is a major manufacturer of LCD panels, which it supplies to manufacturers of products such as laptop PCs, televisions and cell phones. Lower global demand for electronics products and computers as a result of the poor economy is causing device makers to scale back their production and that in turn is hitting LG Display.


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