LG Display plans to endow $2.8 bn to expand OLED Capacity

LG’s display panel maker LG Display has announced that it would invest 3.3 trillion won ($2.8 billion) to further develop its medium-and-small sized OLED display production capacity.

The company further states that the investment, which would be made through March 2024, could be used in OLED facilities in South Korea that produce sixth-generation (1,500mm x 1,850mm) substrates.

LG Display is the world's sole supplier of large-size OLED panels for TVs, but its competitiveness in the medium-and-small sized OLED sector is relatively weak. In the smartphone OLED panel, LG Display owns a 10.6 percent revenue share in the first quarter of the year, far behind Samsung Display Co.'s 73.7 percent share, according to market researcher DSCC, reports Yonhap news agency.

Industry observers said the investment is expected to help LG Display to manufacture 60,000 medium-and-small sized OLED sheets per month at its plant in Paju, north of Seoul. LG Display reported 6.96 trillion won in sales and 701.1 billion won in operating profit in the second quarter of the year.

Furthermore, the company states that it is reviewing a plan to expand the capacity of its plastic OLED panels.