SEOUL (Reuters) - The LCD TV market is seeing stronger-than-expected demand for small-size sets as consumers switch to sleeker TVs from bulky tubes at ever-faster rates, the chief executive of LG Display Co Ltd (034220.KS) said.
“Demand is strong for 26-inch or smaller TVs. The market is shifting to LCD rapidly,” said Kwon Young-soo, CEO of LG Display, the world’s No.2 maker of large-sized liquid crystal display (LCD) panels.
Kwon’s comments, made at a media event after quarterly results on Thursday, were embargoed until Friday.
“Demand for small-sized TVs and cheaper notebook computers is something we hadn’t had expected and counted in,” Kwon said, adding an oversupply in 2009 will be milder than expected.
South Korea-based LG Display is set to start mass production from its new “eighth-generation production line” early in 2009, when analysts expect the market will tilt toward an oversupply.
Kwon said the mass production could start one or two months earlier than the original schedule of March or April.
Reporting by Rhee So-eui; Editing by Keiron Henderson