South Korea’s LG Display is to start making its OLED panels for mobile phones in plastic. This is a direct attempt to crash into Samsung’s 98 per cent market domination of the sector.
LG expects to begin producing plastic OLED panels at a production line at its Paju facility, just North of Seoul, in Q3 this year.
LG’s operating profit for the quarter ended December 31st was 44 billion won, the lowest (down 95 per cent) since April-June 2016. Profits were hit as LCD TV panel prices tumbled 20-40 per cent during 2017 as demand for larger-screen displays softened.
“The downward trend in panel prices is anticipated to continue but prices are expected to stabilise at the end of the first quarter,” CFO Don Kim said in a statement.