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LG Display to inject 700 bln won to expand OLED production line

All Headlines 14:21 June 26, 2014

By Kang Yoon-seung

SEOUL, June 26 (Yonhap) -- LG Display Inc., the panel maker of LG Group, said Thursday it will invest 700 billion won (US$788.1 million) in its organic light-emitting diode (OLED) panel production line to beef up its production capacity to meet rising global demand.

The company aims to expand its monthly production of the eighth-generation OLED input sheets to 34,000 units at its facility in Paju, north of Seoul, during the second half of the year. An input sheet is used for making six 55-inch TV panels.

"OLED, which boasts life-like resolution, makes true curved screens possible, as well as never-before-seen light and slim designs," said CEO Han Sang-beom.

"The OLED sector will become the mainstream of the global industry at a faster pace than cathode ray tube (CRT) or liquid crystal display (LCD) TVs," Han said, adding the company's OLED business will produce "significant" results by the end of 2015.

Han also said the company will forge ties with Chinese tech manufacturers, such as Skyworth, Chang Hong and Konka, adding the Chinese market, which has emerged as the "trend setter" of the global OLED industry, will become key to success in the future display business.

The company is currently considering expanding investment in production of small OLED panels to meet rising demand in the smartphone and wearable device sectors. The company commenced the world's first mass production of six-inch plastic OLED panels last year.

LG Display has been focusing on its OLED business, with industry watchers expecting the South Korean firm to supply its OLED panels to global tech giants such as Sony Corp. and Panasonic Corp.

colin@yna.co.kr
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