Korea’s LG Display invests $3 billion to double its OLED manufacturing capacity

Thursday, September 23, 2021

LG Display Co. plans to invest around $3 billion to double its manufacturing capacity for small and mid-sized OLED displays. The manufacturer is now looking to extend its global leadership in TV displays to other devices with smaller screens. LG Display announced last Tuesday that its board of directors had approved the relevant investment to install a latest-generation OLED display production line at LG’s Paju factory in Gyeonggi Province. As a result, the need for imported components and equipment is also expected to increase, in many cases requiring KC certifications or KCs certifications for machinery. Commissioning is scheduled for 2024.

The new production line will double the capacity for small and medium-sized OLED displays to about 60,000 units per month. According to informed industry sources, LG will also supply OLED displays for Apple’s next-generation iPads and iPhones. For some time now, LG Display has been trying to expand its business to smaller diagonals in addition to large TV screens. While LG Display is the global market leader for OLED TV displays, Samsung Display dominates the market for smaller devices.

Last year, LG Display shipped around 25 million OLED screens for mobile devices, including Apple’s iPhone 12. However, Samsung Display remains the clear market leader in this segment with 82.1 percent market share, while LG Display is a distant second with 7.5 percent. In recent years, smartphones have increasingly been equipped with the high-quality OLED screens. According to analyses by the market researchers at Omdia, the volumes shipped will increase from the current 564 million to 773 million units by 2025. LG Display’s largest customer in the smartphone sector, Apple, has been equipping its iPhone and iPad models with OLED screens since 2017. LG Display now anticipates that other manufacturers will follow this example and also deliver their devices with OLED screens as standard.

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