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LG invests $1.75 billion in flexible OLED displays

Everyone seems to be investing in OLED displays these days, and LG is no exception. In a press release, LG just announced that it will be investing 1.99 trillion won (approximately $1.75 billion) in a new 6th generation flexible OLED display production line in Paju, South Korea.

LG’s Korean rival, Samsung has always been at the forefront of mobile OLED technology, making it widely available with the introduction of the very first Galaxy S way back in 2010. Years later, most high-end flagships today make use of the very same OLED technology – apart from LG, that is.

LG experimented with mobile OLED display technology initially but decided to focus on large OLED panels instead such as TVs. Samsung took a polar opposite approach and used OLED technology primarily for mobile devices. Now, this paradigm is set to change a little.

A few months back, we reported that LG was looking into re-equipping its facilities to focus on OLED production rather than LCD. Facing heat from Samsung – which accounts for 95% of global mobile OLED production – LG invested 10 trillion won to build the P10 plant in Paju to produce OLED displays.

It seems as though LG is hoping that the additional investment will boost its capacity to meet the ever-growing market demand for flexible OLED displays. According to the press release, the 1.99 trillion-won investment will be used for a new production line at the P9 plant in Paju, which is scheduled to start mass production in the second half of 2018.

LG claims that its investments will provide “a firm foundation to lead the next generation market for smartphones with its advanced OLED technology.”

With the global OLED market estimated to be worth $25 billion in 2016 and with the imminent arrival of flexible, foldable, bendable displays, LG’s shift in direction only makes sense.

It’d be interesting to see what kind of devices LG has in store for us in the coming years, especially given the recent partnership with an Ontario-based display technology firm, Ignis. Rumor has it LG is in full preparation to compete with manufacturers like Samsung in the next wave of smartphones – phones that will fold and bend.

Are you excited to see the potential return of flagship LG devices with OLED screens? Let us know what you think by leaving a comment below!

To see the full press release, click below:

[press]

LG Display Invests KRW 1.99 Trillion in Flexible OLED Display Production Line

Seoul, Korea (Jul. 27, 2016) – LG Display, the world’s leading innovator of display technologies, announced today that it will invest KRW1.99 trillion in a new 6 th generation (1,500mm x 1,850mm) flexible OLED display production line in Paju, South Korea, as part of its preemptive efforts to change and lead the approaching era of flexible OLED screens for mobile devices.

Dr. Sang-Beom Han, CEO and Vice Chairman of LG Display, said “A paradigm shift to OLED represents both a challenge and an opportunity for the display industry.” He added, “LG Display is determined to become the leader in the fast-growing OLED market through timely investments to maximize efficiency.”

The new production line, E6, will be installed at its P9 plant in Paju with KRW 500 billion already invested to build supporting infrastructure. The E6 line is scheduled to start mass production in the second half of 2018 and will produce 15,000 input sheets per month. In addition to this new line, LG Display already has a 4.5th generation flexible OLED display production line (E2) in Paju, and is building another new 6 th generation production line (E5) in Gumi which was announced in July 2015.

LG Display announced in November 2015 that it planned to invest a total of more than KRW 10 trillion for the new P10 plant in Paju to produce mainly OLED displays including large-size OLED displays and flexible OLED displays. With the investment in P10, which is now under construction, and the expansion of the P9 facility, the company is laying a firm foundation to lead the next generation market for smartphones with its advanced OLED technology.

LG Display was the first to introduce the era of large-size OLED TVs with its world’s first 55-inch OLED TV display in January 2013. It also introduced the era of flexible OLED displays with the world’s first plastic substrate-based 6-inch flexible OLED display for smartphones in October 2013 and the world’s first 1.3-inch circular flexible OLED display in September 2014. LG Display has established an industry reputation for its recognized expertise and knowledge of flexible OLED displays.

According to IHS DisplaySearch, a global market research firm, the flexible OLED market is expected to grow rapidly with shipments increasing from 59 million in 2016 to 416 million in 2020.

[/press]