LG Display Reduce 2012 CAPEX

Jung-ah Lee, WSJ:

LG Display said it would spend around three trillion won ($2.8 billion) on facilities next year, down about 33% from its revised budget for this year. A month ago the company cut this year’s capital-spending budget to around 4.5 trillion won from 5.5 trillion won.

LGD will not be building additional LCD fabs in 2012. The company is responding to lackluster demand for TVs. 3D and smart TVs. The type of TVs only a few are willing to pay the premium for.