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Business trends

LG and Samsung in full retreat before Chinese flat-panel onslaught

South Korean companies lose market share as free-spending Chinese peers close in

Overwhelmed by Chinese competitors, LG Display is betting on large flexible OLED panels. (Photo courtesy of LG Display)

SEOUL -- South Korea's display panel makers are in trouble. LG Display, the world's top manufacturer of liquid crystal display panels, posted a record loss for the fiscal year ended last December, while Samsung Electronics plans to pull out of the large LCD panel business entirely.

"The game's over. We are no match for the Chinese in LCDs," said an official at a flat-panel parts maker in South Korea upon hearing the news of Samsung's pullout in late March, voicing a widely held view among local suppliers and analysts.

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