LG Chem has confirmed that it will sell its OLED lighting business to its affiliate, LG Display, as rumoured in August (OLED Lighting May Move to LG Display). The move is part of the LGC’s effortts to refocus on its core business.
“LG Chem will focus on its material business, while LG Display will develop OLED-based products”, according to an LGC official quoted by Yonhap News.
The OLED business unit will be sold for KRW160 billion ($141.4 million).
