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LG reportedly merging its display businesses to focus on OLED
LG is reportedly making some major changes in its display businesses to prepare for the future, which it thinks will be all about OLED. The report says that the company is cutting its current divisions down in part to accelerate it move to making OLED screens for smartphones and TVs.
According to Business Korea, citing unnamed sources, LG will reduce its five divisions (TV, OLED, IT, mobile and AD) into just three (TV, mobile and IT). The mobile business division will reportedly shift from making the standard LCD display to new plastic OLEDs. It adds that LG is ramping up production of its E5 line of OLEDs to begin in the first half of 2017. It claims those displays will be used by Apple’s next version of the iPhone. In addition, another plant will make the new E6 line of P-OLEDs.
LG’s TV division has also reportedly merged its LCD and OLED display businesses into one, as well. The IT business division will reportedly keep working on making PC LCD monitors and displays for laptops. The company previously confirmed plans to invest 1.99 trillion won (about $1.75 billion) in a new flexible OLED display factory that will be built in South Korea. So far, LG has yet to confirm these latest business mergers.