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New LG Display TV factory in Vietnam announced

A deal between LG Display and the municipality of Hai Phong (Vietnam) has recently been struck. LGD plans to put up USD 100 million for a local facility and OLED TV module factory. The factory will be built later in 2016 and production of TV sets is scheduled to begin in 2017. While the company purposes to continue the production of the panels in Korea, the intention of the move is to bring down manufacturing costs due to the lower label of labour costs in Vietnam, combined with the proximity to China.

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