LG Display will adjust its capital expenditure target for 2012 owing to sluggish demand for LCD (Liquid Crystal Display) TVs, according to an August 29, 2011 report by Reuters. It is projected that the company's capital spending for 2012 will be the lowest in four years. LG Display said that the company plans to decrease its capital expenditure target for 2012 to approximately three trillion won (US$2.8 billion; US$1=1065.4 won), and it will not build a new factory next year. Previously in July this year, LG Display had cut its capital expenditure by about one trillion won (US$938.6 million).