LG Display to cut output by 10 pct in downturn
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LG Display Co Ltd the world’s No. 2 maker of liquid crystal display (LCD) screens, said on Sunday it would cut its panel output by around 10 percent until August because of weakening global demand.
Leading LCD makers have reaped strong profits in the first half but face a steep slowdown in the coming quarters as the global downturn hits demand for flat-screen TVs and personal computers. Consumers buy smaller television sets while flat TV makers such as Sony Corp and Samsung Electronics Co Ltd are in a fierce price war. AU, the third-ranked LCD maker, said last week it was scaling back production and its capacity utilization rate would fall to around 90 percent in the current quarter. Chi Mei has also undertaken similar steps.
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