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LG Display invests in new OLED light panel plant
LG Display is planning to invest in a new OLED light panel manufacturing facility. It is to be located in the South Korean city of Gumi, where it will produce a range of OLED light panels.
According to the company, the planned facility will be the first 5th generation (1000 x 1200mm) OLED light panel manufacturing plant in the world.
The initial input capacity at the plant will be 15'000 glass substrates per month. The monthly input capacity could be gradually ramped up depending on the market situation.
LG Display expects the increased production with the new facility to give the company economies-of-scale. This aims to help the company obtain significant price competitiveness.
The 5th generation facility will give the company panel size flexibility. With the larger glass substrate, LG Display will be able to produce a wide range of different size light panels, including giant ones. The investment decision follows the acquisition by LG Display of the OLED light business of its sister company, LG Chem in December, 2015.
Mr. Young Kwon Song, Senior Vice President and Head of Strategy & Marketing Group at LG Display, said, “Our OLED light business will further strengthen LG Display’s commitment to nurture OLED as the future growth engine. Based on LG Display’s strong track-record and know-how in OLED display business, we will create synergy with the OLED light business and maintain our strong position in the overall OLED industry going forward.”
According to UBI Research, a market research firm, the OLED light market is expected to grow rapidly from USD 135 million in 2016 to USD 1.6 billion in 2020.
