LCD TV Panel Manufacturing to Take Hit from COVID-19

(Image credit: JVC) LONDON—The global manufacturing of LCD TV panels is expected to see a drop off over the next year or so after significant growth over the last several years because of the impact of the coronavirus pandemic, according to a report from Omdia. As COVID-19 has spread throughout the globe, South Korea suppliers are planning to completely exit LCD TV panel production in Korea in 2020. This will result in the loss of 57 million square meters of capacity, or 17% of total capacity, per Omdia by next year. Demand for new LCD TV panels is also expected to decline from 2019 numbers by about 10%, Omdia says. From 2019-2021, Omdia estimates manufacturing capacity is only expected to grow by 2%—it grew almost 50% from 2013-2020. Factories are expected to continuously be added in China, though they are currently experiencing setbacks related to the COVID-19.

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