LG Display, one of the world's largest flat screen makers, said Tuesday it had started work on a new liquid crystal display plant in China, the world's largest market for LCD televisions.
The world's second biggest liquid crystal display TV maker after Samsung Electronics said commercial operation at the factory in Guangzhou would start in the second half of 2014 but did not provide details on cost.
LG Display has a 70 percent stake in the plant while Chinese partners Guangzhou Development District and Skyworth Digital Holdings own 20 percent and 10 percent each respectively.
LG said South Korean parts makers would also build factories in the Chinese city to create an industrial cluster for displays. It already has two plants in China and one each in Mexico and Poland.
Demand for LCD panels used for smartphones and tablet PCs was estimated to have been worth about $100 billion last year.