LG Display To Spend $2.8 Billion To Expand Medium & Small Sized OLED Display Production Capacity

- Advertisement -

LG Display’s hold on the medium-and-small sized OLED sector is still nascent even though it is the world’s sole supplier of large-size OLED panels for TVs

South Korean conglomerate LG Group’s LG Display announced that it will invest 3.3 trillion won ($2.8 billion) to expand its medium-and-small sized OLED display production capacity.

Adding that the investments will be made through March 2024, the company said it will be used in OLED facilities in South Korea that manufacture sixth-generation (1,500mm x 1,850mm) substrates and the facility is expected to begin operations in 2024.

- Advertisement -

LG Display’s hold on the medium-and-small sized OLED sector is still nascent even though it is the world’s sole supplier of large-size OLED panels for TVs.

In the smartphone OLED panel, LG Display had 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 produce 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.

In a conference call last month, the company said it is reviewing a plan to expand the capacity of its plastic OLED panels.

Analysts said LG Display’s strategy of efficient OLED production expansion by achieving economies of scale added to its better-than-expected operating profit in the second quarter to 701 billion won ($607 million).

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Report Suggests India’s EV Sales Will Surge, Rising 66% In 2024

0
In 2023, sales of electric vehicles (EVs) in India almost doubled due to increased consumer interest, government actions, better infrastructure, and climate change worries....

Ascend Performance Materials: Pioneering Innovation in the Electronics Sector

0
Bridging material advancements in plastics and technological progress, Ascend leads with customised solutions for a safer, reliable and greener tomorrow. Q. How would you explain...

DigiKey Expands Portfolio With 3PEAK

0
This collaboration adds amplifiers, interface components, data converters, and more, catering to industries such as communication, industrial, medical, and automotive.  In a strategic move aimed...

Buzz

CleanMax Alliance With Apple To Boost Renewable Energy In India

0
These installations are anticipated to reduce approximately 207,000 tons of CO2 emissions over their operational lifespan. CleanMax announced a significant joint venture with technology giant...

Ramkrishna Forgings To Supply Powertrain Parts To Top US Electric Carmaker

0
Indian producer of rolled, forged, and machined products enter the US electric vehicle market for the first time. Ramkrishna Forgings, an Indian supplier of rolled,...

Microsoft’s $1.5B AI Venture In UAE Stirs Global Interest

0
New partnership with G42 promises transformative AI advancements in emerging markets, impacting tech and geopolitics. Microsoft has announced a strategic $1.5 billion investment in UAE-based...

Important Sectors

CleanMax Alliance With Apple To Boost Renewable Energy In India

0
These installations are anticipated to reduce approximately 207,000 tons of CO2 emissions over their operational lifespan. CleanMax announced a significant joint venture with technology giant...

Ramkrishna Forgings To Supply Powertrain Parts To Top US Electric Carmaker

0
Indian producer of rolled, forged, and machined products enter the US electric vehicle market for the first time. Ramkrishna Forgings, an Indian supplier of rolled,...

Tesla Power, E-Ashwa To Introduce India’s First EV With Fire Safety Tech

0
The partnership also expands to include the provision of after-sales support for electric vehicle customers by establishing a comprehensive network of sales and service...

Elektrobit Introduces EB zoneo GatewayCore Featuring Infineon’s AURIX TC4x

0
The EB zoneo GatewayCore is designed to connect hardware-dependent accelerators with the Classic AUTOSAR framework, providing adaptable support for intricate routing scenarios. Elektrobit, a premier...

Raptee’s Cell Chemistry Extends Battery Life, Says Dinesh Arjun

0
The Co-founder and CEO of Raptee disclosed that the company is currently sourcing its cells from a variety of countries. Dinesh Arjun, the Co-founder and...

Manufacturing

Ramkrishna Forgings To Supply Powertrain Parts To Top US Electric Carmaker

0
Indian producer of rolled, forged, and machined products enter the US electric vehicle market for the first time. Ramkrishna Forgings, an Indian supplier of rolled,...

AVL And Red Bull To Create High-Density Fuel Cell Technology

0
The advanced technology, featuring ultra-high power density and a lightweight design, is said to be two-thirds lighter than traditional fuel cell systems. This partnership...

JJG Aero Secures $12 Million Investment From CX Partners

0
The Bengaluru-based aerospace components manufacturer intends to use the funds primarily to enhance vertical integration, increase production capacity at the new site, and support...

Tata Electronics Finalizes Semiconductor Agreement With Tesla

0
Ashok Chandak, the head of the India Electronics and Semiconductor Association (IESA), highlighted that Tesla’s initiative to establish a network of domestic suppliers for...

Sterling Tools Targets 40% of Sales from EV Business by FY25

0
This increase is anticipated to come from the EV business segment, which is integral to the company's strategy to diversify its operations. With a certain...