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Company News >> LGD Guangzhou OLED Project will be approved to assist the development of high-end manufacturing in Guangzhou 25th,June,2018
                                            LG Display (referred to as LGD)'s OLED panel factory investment plan in Guangzhou, China, is said to be approved next month. This will be a great event for Guangzhou, which will help improve the high-end manufacturing industry in Guangzhou and shorten it in first-tier cities across the country. The gap with Beijing, Shanghai and Shenzhen.

First-tier cities in Guangzhou have fallen in strength

Although Guangzhou is considered as a first-tier city, its gap with the top three cities in Beijing, Shanghai, and Shenzhen has widened in recent decades. Beijing is China's political and economic center. Shanghai and Shenzhen are China's financial centers. Shenzhen is also China's technological innovation center. The only advantage of Guangzhou is the limited advantages of the International Trade Center.

In terms of GDP, Beijing and Shanghai are far ahead. In 2017, the total GDP of the two cities was 280.04 billion yuan and 301.386 billion yuan respectively; the total GDP of Guangzhou has always been ahead of Shenzhen, but in 2016 Shenzhen surpassed Guangzhou. In 2017, the GDP of Shenzhen and Guangzhou were respectively 2.244839 trillion yuan and 2.050315 trillion yuan, and the year-on-year growth rates were 8% and 7%, respectively. Shenzhen's leading position in Guangzhou was consolidating.

Faced with this situation, Guangzhou urgently needs to strengthen its economic strength and find new economic growth points, while high-end manufacturing has become an option for Guangzhou. China has become the world's largest manufacturing country. However, in recent years, China’s labor costs have continued to rise. Traditional manufacturing competitiveness has declined. Transformation to high-end manufacturing has become an inevitable choice. Chongqing, Chengdu, Hefei and other cities will all develop high-end manufacturing. As their option, Guangzhou's choice to develop high-end manufacturing is clearly the right choice.

Guangzhou is the capital of Guangdong, and Guangdong is the manufacturing province of the country. Dongguan was once regarded as a global manufacturing base. Guangzhou's development of high-end manufacturing industry can be called the leader of the province or even the Pearl River Delta economic circle. From this perspective, The development of high-end manufacturing in Guangzhou has indeed helped to consolidate its economic status. According to the survey, the primary industry in Guangzhou accounted for as high as 70.9% in 2017, while the primary industry accounted for 58.6% in Shenzhen, Shenzhen's secondary industry accounted for 41.3%, and Guangzhou only 28 In contrast, .0% also requested that Guangzhou strengthen the development of its secondary industry.

LGD's establishment of a factory in Guangzhou helps the development of high-end manufacturing in Guangzhou

In recent years, Guangzhou has obviously increased the development of high-end manufacturing. In 2017, Foxconn invested 60 billion yuan in a panel factory in Guangzhou. By this time, LGD invested more than 30 billion yuan in building an OLED panel factory in Guangzhou. This shows that Guangzhou is continuing to pass. Attract foreign investment in the development of high-end manufacturing.

LGD invests in Guangzhou's OLED panel factory, which represents the current technology development direction for TV panels. OLED TVs account for more than 51% of the world's high-end TVs. More than a dozen TV companies worldwide have joined LGD in adopting their OLED panels to represent OLEDs. TV began to spread in the television industry.

At present, there are two TV companies in China that rank among the top four in the world, namely TCL and Hisense. TCL is a TV company in Guangdong, and there are TV companies such as Konka and Skyworth in Guangdong. LGD's OLED panel factory will obviously contribute to the development of Guangzhou. Become an important supply base for the television industry and become a leader in the Pearl River Delta economic circle.

OLED has been regarded as the technological development direction of TV in the future. LGD is the leader of global OLED panel for TV (which accounts for more than 90% of the OLED panel market share for TV), and its OLED panel factory invested in Guangzhou will have great development. Opportunity; China as the world's largest TV market and has two of the world’s top four TV brands and numerous TV brands, LGD’s OLED panel factory in Guangzhou is expected to continue to expand production capacity; LGD’s OLED panel factory in Guangzhou will also drive a large number of Industrial chain investment.

From a variety of perspectives, we can see that LGD's OLED panel factory invested in Guangzhou is of great significance to Guangzhou, which has a major role in driving the development of high-end manufacturing in Guangzhou, helping Guangzhou achieve economic transformation, and competing in Guangzhou and Shenzhen in the present. In particular, it has its special significance under intense circumstances.

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