LG 4K OLED TV (Photo : Reuters)
LG announced its commitment to OLED technology over the next few years, starting with plans for a large panel plant in South Korea.
The South Korean multinational electronics company will spend over $8.7 billion to build OLED panels factory, helping to boost company’s presence in the smartphone and tablet segment. The OLED factory will be called P10, which will be in Paju, Gyeonggi Province and will take about two years to complete. It is expected to be the size of 14 football fields and about 328 feet high.
It will specialize in large-size OLED TV panels and flexible OLED panels for smartwatches and automotive displays, PCMag reported. Dr. Sang Beom Han, CEO and President of LG Display, said that the production is expected to begin in the first half of 2017.
The company’s plan shows its continued investment in OLED TVs, but the technology could also become a major source of income. Apple is reportedly indeed planning to adopt OLED technology for its iPhones from 2018. LG Display is planning to respond to Apple’s need by upgrading the OLED capacity and to become a stable source of OLED screens.
Both Samsung and Sony have moved away from using the technology for TVs in favor of LCD panels. Hoever, Panasonic has joined LG in supporting the tech, launching its first commercial OLED TVs earlier this year, according to The Verge.
Currently, Samsung Electronics dominates more than 90 percent of the global market for small and midsize OLED panels, and the company started production at a new domestic facility in April. It also enjoys increasing sales to customers including China's Huawei.
