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Company News >> LCD panel production gradually moved to the mainland three major glass substrate Korea branch performance slip 27th,Mar,2017
                                          Display glass substrate manufacturers Korea branch sales and operating interests of poor performance. (Corning), Asahi (Asahi) and Japan's electrical glass (NEG) Korea branch of the three major manufacturers of poor performance in 2015, mainly due to South Korea's LCD panel production gradually moved to the mainland, while the proportion of OLED production increased Also have a little impact.
                               According to ETnews, Corning's precision materials, Asahi Glass Fine Techno Korea (AGC) and Japan's Nippon Electric Glass Korea (NEG) report for 2015 show that the three companies are underperforming. Traditionally, glass substrate manufacturing companies have maintained operating profit margins of more than 30%, but the LCD panel production to the mainland, as well as the proportion of OLED production increased, which led to the operation of the three companies affected.
                               Corning Precision's revenue for 2015 was 1.65 trillion won (about 1.43 billion US dollars), operating profit of 451.3 billion won, operating profit margin of 27.3%, still maintained in the display industry a very high level. Compared to 2014, although revenue decreased by 11.8%, but its operating interests increased by 131.5%. Korea Corning shows that due to the integration process of the branch, the one-time expenses incurred in 2014 and so on, the operating interests will be restored to the pre-merger level.
                               South Korea Corning related sources said that in 2014 will be Samsung monitor (Samsung Display) held by the 42.6% stake in the company name from the Samsung Corning precision materials into Corning precision materials, the company integrated operations. In this process, due to the staff of the unit to mobilize the compensation costs incurred, so that the temporary reduction in operating interests, and now integration has ended, so the performance has returned to the previous level.
                                Corning precision materials are mainly used in the use of television, monitors and smart phones such as glass substrate, and the protection of smart phones, such as enhanced glass. Corning and Samsung display joint venture production of OLED glass Samsung Corning Advanced Glass (Samsung Corning Advanced Glass, Samsung SCG) and no other open performance status.
                                 In addition, Asahi Glass Korea (AGC) 2015 revenue of 589.9 billion won, operating profit of 69.8 billion won, compared to 2014 decreased by 14.4% and 19.3%. Its revenue in 2012 reached 1.42 trillion won, operating profit of 213.3 billion won, the performance continued to decline, 3 years of performance only less than half of the original.
                                 Nippon Electric Glass (NEG) has a total of three branches in Korea, each holding a 40% -owned joint venture for Nippon Electric Glass Korea (NEG Korea) for the manufacture of LCD substrate glass, Glass (Paju Electric Glass, PEG), and fully funded by the Japan Electric Glass, opened in 2012, the International Branch of the Electrical Glass (EG Korea).
Among them, Pauzhou Electric Glass 2015 revenue of 537 billion won, operating profit of 20.2 billion won, compared to 2014 revenue decreased by 15.8%, but the operating profit has increased by 10.9%. Its 2014 revenue of 638.3 billion won, operating interests of 18.2 billion won, compared to 2013 revenue reduction of 15%, operating profit fell 51.2%.
                                  Nippon Electric Glass has set up an electrical glass Korea branch for the smooth supply of the panel to the LG Display and the establishment of an overseas production base. The company finally profited four years after its establishment, with a revenue of KRW 2,080 million in 2014, an operating loss of 12.1 billion won, a revenue of 215.1 billion won in 2015 and an annual profit of 16.2 billion won.
                                  South Korea believes that the main reason for the reduction in the performance of foreign glass substrate manufacturers in Korea is due to the stagnation of domestic LCD investment in Korea and the relocation of the display industry to OLED. And the current mainland investment in LCD for the active situation in the opposite, in South Korea did not increase investment, and even interrupted the original old production line.
                                  The industry focus on the display industry is also a new change. Currently flat panel OLED and Samsung smart phones on both sides of the curved Edge series OLED display used only one piece of glass, less than two LCD panel, so part of the impact of the operation of the glass substrate company. Whether the future flexible OLED is widely used, because the soft film to replace the glass substrate, so the demand for glass will be further reduced.
                                  South Korea industry stakeholders said that although the past monitor glass manufacturers usually have about 50% of the operating rate of the record, but if the flexible OLED market as the center of gravity, there is no glass material innovation, to look like the past, the general high Lee growth will be quite difficult.

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