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Saturday, 19 Aug 2017

LG announces intention to build China's first large-panel OLED plant

The facility, to be operated by a venture 70%-owned by LG, is expected to have a monthly output capacity equivalent to about 60,000 Gen-8 glass substrate

26 Jul 2017 | Editor

According to news on the Nikkei Asian Review website LG Display has announced it will build what is to be China's first production plant for large OLED panels, which are coming into greater use in televisions and digital signage.

The facility, to be operated by a venture 70%-owned by LG, is expected to have a monthly output capacity equivalent to about 60,000 Gen-8 glass substrate.

In its announcement, LG said it plans to spend US$8.61 billion (9.6 trillion won) to boost output capacity in South Korea and China for OLED panels. Of this, 1.8 trillion won will serve as seed money for setting up the venture, which will involve a Chinese partner that has yet to be decided.

The rest of the money will go toward expanding OLED panel capacity at a factory in the city of Paju, outside Seoul. LG will invest 2.8 trillion won in a production line for large OLED panels and 5 trillion won in a new line for small and midsize panels for smartphones. The investments will be made by the summer of 2019.

An unnamed spokesperson from LG Display said "although OLED TVs are pricier than their LCD counterparts, there is enduring demand for high-resolution models that can be mounted on walls."

The move is part of a broader trend among foreign manufacturers to invest in advanced production facilities in China.

OLED panels are attracting attention because they offer more vivid colors than liquid crystal displays and can be made to consume less power.

www.lgdisplay.com    asia.nikkei.com   

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