Hon Hai Technology Group (Foxconn) and Sharp team up to launch $8.8 billion LCD panel factory in China

LCD displays are still going to be around for a long time, at least for smart TVs such as the ones that use Android TV and other operating systems. Today, the massive electronic manufacturing company Hon Hai Technology Group (Foxconn) announced a new partnership with Sharp to build and operate a new TV LCD flat-panel factory in China, which will cost $8.8 billion.

Reuters reports that the new factory will help with the expected demand of new flat-screen TVs in Asia. Hon Hai Technology Group (Foxconn) said that the LCD factory will make 10.5-generation 8K displays, along with screens for smart TVs and electronic whiteboards. Production is expected to begin in 2019.

This news comes even as other companies are embracing OLED displays for both TV as well as smartphones. However, there’s still some life in the LCD market. Panasonic recently announced an LCD IPS display with a 1,000,000:1 contrast ratio. It is supposed to have 600 times more contrast compared to normal LCD panels, and those levels are close to those found in OLED displays.

However, other companies seem to want to move towards an OLED future. Earlier this month, it was reported that LG had decided to make some business changes in its display business to focus more on the OLED format. It will be interesting to see how this format battle will move forward in the future.