In 2020, LG Chem announced that it has sold most of its LCD polarizer business to China’s Ningbo Shanshan, in a $1.1 billion deal. LG Chem retained its automotive LCD polarizer and its OLED polarizer businesses. The company now announced that it sold all of its remaining display polarizer business to two companies, for around $800 million deal - the polarizer materials business to Hefei Xinmei Materials Technology ($616 million) and the polarizer production business to Shanjin Optoelectronics ($200 million).
LG Chem aims to focus on its main growth engines, namely battery materials, green materials and life sciences. The company did not detail its plans for its remaining OLED businesses.