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LG shakes up group to restore former glory

South Korean manufacturer moves capacity abroad to stem losses

An LG Display plant near Seoul: the company will end domestic production of LCD panels for TVs. (Photo courtesy of LG Display)

SEOUL -- LG is reorganizing its businesses to make a comeback as one of the top electronics conglomerates in South Korea, having decided to stop producing television panels and smartphones on its own soil.

LG Display CEO Jeong Ho-young announced at last month's CES electronics expo in Las Vegas that the company will end domestic production of liquid crystal display panels for TVs by the end of the year, with the capacity to be shifted to the production base in Guangzhou, China.

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