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LG Says End of Lockdowns Will Lower Tech Demand, Prices: FT

The wilting US economy has forced South Korea's LG Energy Solution (LGES) to take another look at its plan to make EV batteries in Arizona.
LGES said in March the plant would be its first US factory to make cylindrical cells, a type of battery that has been used in Tesla and Lucid vehicles. File photo: Reuters.


(AF) The lifting of pandemic lockdowns around the world will reduce demand for electronic goods and lower prices, Korean TV and panel maker LG Display has said, according to the Financial Times.

The supplier of screens to companies including Apple, said “demand for small-to-mid-size TVs is falling” and that it assumes “IT panel prices might be partially mitigated and decline” in the second half of the year, the report stated. The comments came as LG Display announced a second-quarter profit growth fuelled by pandemic demand for TVs and laptops. Full story: Financial Times 


Also on AF: LG to Invest $5.2bn in EV Battery Production, FT Reports


Mark McCord

Mark McCord is a financial journalist with more than three decades experience writing and editing at global news wires including Bloomberg and AFP, as well as daily newspapers in Hong Kong, Sydney and Melbourne. He has covered some of the biggest breaking news events in recent years including the Enron scandal, the New York terrorist attacks and the Iraq War. He is based in the UK. You can tweet to Mark at @MarkMcC64371550.


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