LG Display to Invest US $788M to Expand OLED Production

LG Display has announced plans to invest US $788.1 million in its OLED panel production line to meet growing global demand, according to Korean news source Yonhap News Agency.

The company intends to expand OLED input sheet production to 34,000 units per month during the second half of 2014 in order to satisfy demands.

LG Display is optimistic that the OLED sector will grow faster globally compared to CRT and LCD. The company plans to expand its presence in the Chinese market as it has become a “trend setter” in the OLED industry, said Yonhap. The company has joined hands with Chinese manufacturers including Skyworth, ChangHong, and Konka.

In addition, the company is also looking to take advantage of the growing opportunities in the smartphone and wearable market by expanding small panel OLED production.

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