LG to ramp up OLED production
September 7, 2016
By Chris Forrester
LG is to boost output of its OLED high-end TV displays by 70 per cent this year in order to tap into consumer demand.
The Korea Times is reporting that production will rise 70 per cent this year and that LG is now claiming a market share of about 90 per cent of OLED sales. Overall, about half of LG’s OLED sales have come from high-end UHD sets, compared to one-third last year.
“Through a period of meaningful growth in the last three years, OLED has become the mainstream in premium TVs,” said Kwon Bong-seok, EVP of LG Electronics’ HE Business Division, speaking at the IFA electronics show in Berlin. “OLED will solidify its position as a central mega-trend this year,” he told IFA delegates.
LG is now turning out UHD OLED sets in ranges from 55”-77”, although the company admits that competition will become stronger in the OLED space and they expect at least 10 other electronics companies will be turning out OLEDs by the end of this year.