LG Display is rapidly ramping up sales of large organic light emitting diode (OLED) panels.
LG Display announced on August 15 that its large OLED sales exceeded 1.3 million units in the first half of this year. They more than doubled from the first half of last year (about 600,000 units). In particular, sales of 55-, 65-, and 77-inch panels evenly increased.
Demand for OLED panels is surging because global TV companies are joining the OLED TV group. In 2013, LG Electronics began to roll out OLED TVs. At present, LG Electronics, Sony, Toshiba and Panasonic of Japan and Philips, Grundig, Loewe, Metz, Vestel and Bang & Olufsen (B&O) of Europe are producing OLED TVs. Hisense joined the group and is close to launching its OLED TV this year.
LG Display is the only OLED panel manufacturer in the world. OLED displays are self-luminous displays that emit light on their own and do not require backlight. They can become very thin and be applied to future products such as transparent, flexible and bendable products of the future.
LG Display completed a complete system from OLED development to production to sales. As a result, the company achieved a high yield in just three years. In the case of liquid crystal displays (LCDs), it took LG Display ten years to do that. The company’s sales volume of OLED panels which stood at only 200,000 units in 2013 exceeded 1.7 million units last year. It is expected to hit 2.9 million units this year.
LG Display plans to dial up its monthly output from 70,000 units to 130,000 units next year. This is because its 8.5th-generation OLED plant in Guangzhou is scheduled to be completed in the second half of next year. The plant will have a monthly production capacity of 60,000 units of panels.
Its 10.5th-generation P10 plant under construction in Paju near Seoul will also produce OLED panels without passing an LCD production process.