LG Display to invest $2.54 billion to expand OLED production
The company‘s increased investment into a large-sized OLED production infrastructure aims to meet the fast growing demand for OLEDs especially in the supersized TV market.
LG Display says it will mainly produce 65-inch and above supersized OLED panels from the Gen 10.5 production line, starting at 30,000 sheets per month from the first half of 2022 to reach 45,000 sheets per month in the first half of 2023.
LG Display started investing KRW 1.84 trillion to build its new P10 plant and some of its facilities in November 2015. In July 2017, it decided to make an up-front investment of another KRW 2.8 trillion mostly into OLED substrate production for a monthly OLED production capacity of 30,000 sheets. Today, the company has decided to invest another KRW 3 trillion, which will mainly be used to build an OLED evaporation facility for the 30,000 sheets as well as another facility to produce an additional 15,000 sheets per month.
With this new investment, the company wants to retain its competitiveness in the supersized TV market as Chinese companies are pacing up their OLED production. It hopes to lead the existing TV market with differentiated OLED products, such as wallpaper OLED, Crystal Sound OLED and rollable OLED, creating a new market by expanding applications that can use large OLED panels.
Its Gen 8.5 (2,200×2,500mm) plants in Paju, Korea and in Guangzhou, China, and the to-be-completed Gen 10.5 plant in Paju, will each produce large-sized OLED panels that are optimized for their corresponding regions and fab generations in terms of size and product category. The company notes it will use the MMG (Multi Model on a Glass) method to improve glass efficiency and expand supply, which in turn will maximize profitability.
LG Display – www.lgdisplay.com
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