The World's Only Supplier of Plastic OLEDs for Vehicles
LG Display has begun to upgrade its business structure by focusing on displays for vehicles.
According to Hi Investment & Securities on Feb. 22, LG Display's vehicle display sales are expected to more than double from 1.6 trillion won in 2022 to 3.5 trillion won in 2025. Its automotive display order intake in 2022 is estimated at more than 4 trillion won, an increase of about 40 percent from 2021.
In particular, the proportion of organic light emitting diode (OLED) orders in its total orders increased from 30 percent in 2021 to 45 percent in 2022. This is due to a steep increase in demand for automotive displays as the number of related displays goes up as the automotive electronics market grows.
According to market researcher Omdia, the size of the automotive display market is expected to grow from US$8.6 billion in 2021 to US$9.6 billion in 2023, thanks to increased demand for ultra-large displays which are 10 inches or larger and OLED panels.
LG Display has ranked first in the 10-inch and larger premium automotive display market for four consecutive years with high growth potential. In addition, LG Display is the only company that can produce plastic OLED panels for vehicles in the world and is now supplying them. The Korean display giant will further strengthen its competitive edge in winning orders with its differentiated lineup such as automotive OLED panels developed and produced with its own technology and ultra-large, low-power and ultra-high brightness technology based on low temperature polysilicon (LTPS) LCDs.