S Korea's LG cuts down on LCD production: Report

LG Display's move followed similar steps by its Taiwanese rivals CPT, CMO and AU Optronics, it said.     

"July and August are vacation seasons in North America and Europe, meaning less demand for products and a supply glut in global markets," the unidentified LG Display official was quoted as saying.     

"Under the company's business principle to cope with the market flexibly, we have decided to reduce the amount of glass plate inputs" at two factories in South Korea, the official said.     

Global LCD panel prices dropped more than 10 per cent month-on-month in July amid oversupply, according to display market researcher DisplaySearch.     

South Korea's Samsung Electronics, the world's largest LCD manufacturer has said it has no immediate plan to cut down on the producing of its flat-screen panels.