According to foreign media reports, LG Electronics announced Tuesday the company will be abandoned in the plasma display panel factory building two solar cell production line. This initiative shows that LG Electronics in the hope that the renewable energy sector to seek a new growth point.
LG Electronics in June bought LG Chemical’s solar sector. LG Electronics said it will invest 222,000,000,000 won (168,000,000 U.S. dollars) to build two production lines of solar cells. This will be two production lines in early 2010 and start mass production early in 2011.
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LG said in a statement, the two production lines to produce crystalline silicon solar cells and modules, the production capacity of 120MW.
LG Electronics is a manufacturer of home appliances and mobile phones. As the prices of TV, LCD TV, as well as from the increasing competition, the company closed in 2007, three plasma displays (PDP) in a factory.