South Korea’s electronics giant LG Display confirmed July 26th that it will invest 15 trillion Won (about $13.5 bn) to boost production of OLED screens, for TV sets and cellular devices.
LG said its board had approved its plan to invest 7.8 trillion won in new OLED production facilities located in Paju in Gyeonggi Province. It will spend 2.8 trillion won to add 10.5-generation OLED lines for large TV panels and another 5 trillion won to build 6-generation plastic OLED (POLED) lines for small- and mid-sized screens for handheld devices. Both production lines will be added to the company’s P10 fab currently under construction in Paju, which is expected to emerge as the company’s OLED production hub for televisions and mobile devices.
The cash will be invested between now and 2020, the company said in a statement. Some of that investment will be focused on its latest ‘wallpaper’ screens, which the company says have received positive consumer feedback.
Additionally, LG says it will participate in a joint-venture in Guangzhou, China, to produce 8.5 generation OLED screens. LG will hold a 70 percent stake in this new business.
LG Display’s latest numbers show that TV panels represented 46 per cent of the company’s sales revenues, with device panels taking 22 per cent, monitor screens 17 per cent and notebook and tablet screens 15 per cent.