Market Chatter: LG Display Sues Tianma Microelectronics Over Alleged Patent Infringement

Tianma Microelectronics elected Cheng Wei as chair to succeed Peng Xuhui, who resigned due to a work reassignment.

Cheng stepped down as general manager, according to a Friday filing with the Shenzhen bourse.

LG Display plans to invest 700 billion won in its domestic organic light-emitting diodes (OLED) production, using proceeds from its recent 2.25 trillion won stake sale in a Chinese plant to TCL Technology Group subsidiary China Star Optoelectronics Technology.

The South Korean displaymaker is weighing an expansion or new plant in Paju, while also allocating funds to research and development and operational upgrades to boost its OLED competitiveness, Yonhap News reported Thursday.

Shares of LG Display rose nearly 1% at market close on Thursday, while those of TCL Technology Group fell 1%.

Tianma Microelectronics narrowed 2024 net loss attributable to shareholders to 668.6 million yuan from 2.10 billion yuan the previous year.

Losses per share narrowed year on year to 0.2720 yuan from 0.8535 yuan, according to a March 15 filing with the Shenzhen bourse.

The in-car screen manufacturer's revenue climbed 3.8% to 33.5 billion yuan from 32.3 billion yuan.

Shares of the company rose 1% in recent trade.

Tianma Microelectronics expects to incur a loss attributable to shareholders of between 650 million yuan and 750 million yuan in 2024, narrowing from the year-ago loss of 2.10 billion yuan, according to a Shenzhen Stock Exchange disclosure on Thursday.

Loss per share is projected between 0.26 yuan and 0.31 yuan, compared to 0.85 yuan a year earlier.

The Chinese in-car screen manufacturer attributed the forecast to increased profit and operating income, the disclosure said.

Shares of the company dropped less than 3% in recent trade.

Tianma Microelectronics expects to incur a loss attributable to shareholders of between 650 million yuan and 750 million yuan in 2024, narrowing from the year-ago loss of 2.10 billion yuan, according to a Shenzhen Stock Exchange disclosure on Thursday.

Loss per share is projected between 0.26 yuan and 0.31 yuan, compared to 0.85 yuan a year earlier.

The Chinese in-car screen manufacturer attributed the forecast to increased profit and operating income, the disclosure said.

Shares of the company dropped less than 3% in recent trade.

TCL Technology Group further acquired a stake in LG Display's unit, according to a Shenzhen Stock Exchange disclosure on Jan. 10.

The Chinese electronics manufacturer, through unit TCL Huaxing Optoelectronics Technology, acquired 20% of electronic component maker LG Display (China) for 2.62 billion yuan from Guangzhou Hi-tech Zone Technology Holding Group through public delisting.

TCL previously bought 80% of LG Display (China) from LG Display and its affiliates in September 2024, with the transaction still undergoing the approval process of relevant departments.

Upon completion, TCL will hold 100% of LG Display (China).

LG Display's shares dropped less than 3% in recent trade.