LG Display all set to increase its OLED production to Twice the Capacity

LG Display, the world’s top developer in display technologies, is all set to increase the production of OLED sheets to almost twice its current capacity. The firm announced at an event on Thursday. The bulk production of the OLED panels is being done at its second OLED plant, which has been newly set up in Guangzhou, China.

The LG Display plant located in Paju, South Korea, can produce about 70,000 OLED sheets every month. At the same time, the latest plant that has come up in Guangzhou can come up with 60,000 OLED sheets every month. When the production outputs from both the plants are added up, the firm will end up producing about 130,000 OLED sheets on a monthly basis. This is almost twice the original capacity.

LG has stated that the display panels produced at the Guangzhou plant would be useful in producing display models that have a size range of 48 to 77 inches. This simply means that these panels would be used in the production of TVs. LG Display is one of the biggest providers of OLED panels for TVs in the entire industry. LG Display OLED panels are found in TVs of almost 19 brands, which include LG, Vizio, Sony, Panasonic, Hisense, Bang & Olufsen, and Toshiba.

LG Display’s latest plant has come up at a time when it has decided to do away with LCD panels. Its competitor Samsung Display also has decided something on similar lines. Most of the TVs at present are housing LCD panels. Sometime during the beginning of this year, LG Display had stated that it plans on stopping the manufacturing of LCD panels in South Korea. Samsung Display also announced that it would no longer be producing LCD panels in South Korea and China.

James Hoyoung Jeong, CEO of LG Display, hopes that the newly established plant would “enable more rapid adoption of OLED displays in the market.” Jeong feels that large-sized OLED displays would prove to be an “essential growth engine of LG Display for the future.”

The Guangzhou plant would be involved in producing huge sized OLED panels having a high-end resolution. These would include 48-inch, 55-inch, 65-inch, and 77-inch panels. The efficiency and productivity of the plant are also expected to be quite high. All these factors imply that the plant would end up manufacturing large-sized and good quality OLED panels. LG Display feels that by going forward, the new plant could end up producing almost 90,000 OLED sheets every month.

An important point worth mentioning here is that the coronavirus pandemic disrupted the bulk production at the Guangzhou plant. Apart from this, there were other additional problems like an increase in demand volatility. LG Display took all possible efforts to resolve these issues. It even went on to send about 900 core engineers via chartered flights to Guangzhou right from March this year.

LG Display expects that OLED panels would be contributing to almost 50% of their total profits by 2021. In 2018, OLED panels made up to 30% of their total revenues. On the other hand, Samsung Display is relying a lot on quantum dot. According to ZDNet, all of the future QD displays manufactured by Samsung Display would be housing OLED panels, rather than the LCD panels that are found at present.

Image Source: The Verge

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Jonas Whites

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