South Korean LCD panel maker LG Display is going to churn out 10% less panels during August. A rep told newspaper Korea Times that the world's number two maker of flatscreens had begun to scale back production in two of its plants already on Saturday. The company hopes it will be able to rectify the discrepancy between demand and supply. The move comes just days after Taiwanese competitor Chi Mei Optroelectronics said it would take an axe to its output.

Chi Mei followed in the footsteps of AU Optronics, another display maker based in Taiwan. AU Optronics revealed it had downscaled production on it's sixth generation production lines by 10% ten days ago.

LG Display's CEO Kwon Young-soo reportedly said that LG Display would whack down its production until September, when demand is supposed to increase again. July has been a bad month for display makers worldwide and things are going to get worse in August. Samsung, LG Display and friends and foes are currently in a fix as their warehouses are full with panels whilst demand is weak, meaning they have to sell them cheap.

Samsung, however, hasn't chimed in the chorus just yet, but may do so in the next few days. Discerning consumers ought to consider buying a flatscreen during August, before prices get a free hike upwards again. X

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Korea Times