The demand for OLED panels is on a sharp increase as a growing number of global TV makers are joining the OLED race by incorporating this next-generation technology into their TV product portfolios.
LG Display, the sole large-size OLED panel manufacturer in the world, has been focusing on developing its OLED business as it considers this technology as a future growth engine as well as a display market game changer. By maximizing production efficiency, the company expects to sell more than 2.9 million units of large-size OLED panels this year compared to 200,000 units in 2013 and 1.7 million units in 2017. Based on the trend of rapidly growing sales, the company anticipates that its large-size OLED business will turn to profitability within the year.
LG Display will produce 130,000 input sheets of OLED per month, almost double the current 70,000 sheets per month at its 8.5th generation OLED production facilities in Paju, Korea, once it starts mass production in the latter half of 2019 at its 8.5th generation OLED production facility in Guangzhou, China, which is now under construction. Given that the company also decided on using its 10.5th generation production facility currently under construction in Paju to manufacture OLED as well, the production capacity of large-size OLED panels will further increase.
“Many global TV brands have been selecting OLED technology, recognizing its differentiated value, and thus OLED TVs are leading the premium TV market,” said Yong-Kee Hwang, president and head of TV Company at LG Display. “LG Display will pioneer the future TV market by continually developing differentiated products that exceed customer expectations and by responding to the sharply increasing demand for OLED TV through active investment in production capacity.”