LG Display Makes Major Investment in Next-generation OLED Panels
December 9, 2015 | LG DisplayEstimated reading time: 2 minutes
LG Display, the world’s leading innovator of display technologies, announced today that it will invest KRW1.84 trillion to begin building a new panel plant in Paju, Gyeonggi Province, Korea, with production expected to commence in the first half of 2018.
The company decided on the new plant, known as P10, because of anticipated demand for OLED panels over the next several years. The P10 plant will mainly produce both large-size OLED TV panels and flexible OLED panels for smartwatches and automotive displays.
The KRW1.84 trillion investment covers the construction of the P10 building, the foundations for the clean rooms and infrastructure for water and power supplies and will begin this year. The total investment in the P10 plant is expected to reach more than KRW10 trillion, and with LG Display gradually expanding the scale of the production line based on customer demand and market conditions.
The completed plant will cover an area of 382m x 265m, which is equivalent in size to 14 football fields, and will be 100 meters high. Plans call mostly for the installation of large size OLED lines that will be 9th generation or above along with flexible OLED lines at the new plant. The first production line is scheduled to start mass production in the first half of 2018.
The company is expecting the lines will produce OLED in every product segment, including ultra large-size products as well as future products such as flexible and transparent displays. Dr. Sang Beom Han, CEO and President of LG Display said, “LG Display’s investment in P10 Plant is a historical investment for the industry since it will not only help expand the OLED market but also accelerate the development of future display technologies. With the active support of the Korean government, we believe the P10 plant will become the center of the global OLED industry.”
IHS, the market research firm, forecasts the global OLED panel market will grow to $29.1 billion in 2022 from $8.7 billion in 2014.
TV manufacturers in Korea, China and Japan have already launched OLED TV models and more TV manufacturers in Japan and Europe are expected to adopt OLED TVs in the near future. Demand for flexible OLED panels in the smartwatch and automotive display sectors is also rising because they offer better design flexibility than LCD panels.
LG Display announced in August that it would invest more than KRW10 trillion in expanding production of large-size OLED panels, flexible OLED panels and premium LCDs by 2018. The company has already announced it will invest KRW1.05 trillion in a 6th generation flexible OLED production line in Gumi, Gyeongsangbuk Province. The 6th- generation production line will produce 7,500 sheets per month and is expected to start mass production in the first half of 2017.
Suggested Items
Mycronic Releases Interim Report January–March 2024
04/18/2024 | MycronicNet sales increased 39 percent to SEK 1,692 (1,219) million. Based on constant exchange rates, net sales increased 42 percent.
Real Time with... IPC APEX EXPO 2024: Exploring Silicone Solutions with R&D Director of CHT
04/17/2024 | Real Time with...IPC APEX EXPOIn this interview, Gerry Ellis, the R&D director for CHT, discusses the product range offered by his company. He explains the challenges in creating base formulations, the drive to make products more user-friendly, and the various application techniques involved. Ellis also highlights the key market segments and the significance of providing efficient solutions to customers.
Gartner Forecasts Worldwide IT Spending to Grow 8% in 2024
04/17/2024 | Gartner, Inc.Worldwide IT spending is expected to total $5.06 trillion in 2024, an increase of 8% from 2023, according to the latest forecast by Gartner, Inc. This is an increase from the previous quarter’s forecast of 6.8% growth and puts worldwide IT spending on track to surpass $8 trillion well before the end of the decade.
Catching Up With Chasom Electronics
04/16/2024 | Dan Beaulieu, D.B. Management GroupI recently met with Chasom Electronics’ founding director Anil Kumar. Chasom offers a unique menu of services for companies looking to extend their technology capabilities on a short- or long-term basis. Read on to learn about this very unique service company.
Cicor Records Solid Growth in Q1
04/16/2024 | CicorThe Cicor Group continued to grow in the first three months of the year. Quarterly sales increased by 11.8% to CHF 107.3 million compared to the first quarter of the previous year (Q1/2023: CHF 96.0 million).