LG Display Co., a leading supplier of flat screens, announced the sale of its facilities in Guangzhou, China, to a subsidiary of TCL Group for $1.5 billion as part of its restructuring efforts. The company has agreed to transfer its ownership in its LCD panel and module factories to China Star Optoelectronics Technology, with the deal expected to be finalized by March 31, 2025. This strategic move signifies LG Display's shift away from the competitive LCD market towards its organic light-emitting diode business, which is seen as a key growth area for the company. By divesting its Chinese facilities and focusing on OLED technology, LG Display aims to enhance its market position and adapt to the evolving demands of the display industry.