LG Display Scraps Sale of Nanjing Automotive LCD Module Business
LG Display has terminated a deal to sell its automotive LCD module business in Nanjing, China, to Top Run Total Solution. The transaction, valued at $68.9 million, was called off after conditions for the deal could not be finalized.
LG Display has abandoned its plan to sell its automotive LCD module business in Nanjing, China, to Top Run Total Solution. The deal, valued at RMB 491.5 million ($68.9 million), was terminated because the parties could not reach a final agreement on the necessary conditions for completion.
The display manufacturer had intended to outsource production following the sale to enhance operational efficiency and profitability. The closing date for the transaction had already been extended from July 30 to September 30.
Top Run stated that the contract was terminated by mutual agreement, with no penalty fees or additional financial burden on either side. The termination comes amid growing demand for in-car displays.
LG Display's decision may prompt a reassessment of its outsourcing and supply chain strategies within the automotive sector.