LG Display to Invest $8.7 Billion in New Oled Plant in South Korea

South Korea’s LG Display said Friday it planned to invest close to $9 billion (roughly Rs. 59,969 crores) in a new plant to produce organic light-emitting diode (Oled) displays, anticipating a surge in demand for the ultra high-definition technology.

Total investment in the plant, to be built in Paju near the border with North Korea, is expected to top KRW 10 trillion (roughly Rs. 58,036 crores), the company said.

Expenditure in the first stage has been set at KRW 1.84 trillion, with production scheduled to begin in the first half of 2018.

LG Display CEO Han Sang-Beom hailed what he called an “historical investment” that would make the plant the “centre of the global Oled industry.”

Oled screens deliver a more vivid picture quality, consume less electricity and promise wider profit margins than the liquid crystal display (LCD) in common use.

LG Display is currently the world’s largest LCD panel producer but has been signalling a major shift to the more advanced Oled technology for some time.

Citing market research firm IHS, the company said the global Oled panel market was forecast to grow to $29.1 billion (roughly Rs. 1,93,900 crores) in 2022 from $8.7 billion last year.

Much of the growth could be fuelled by reports that Apple plans to adopt Oled screens on its iPhone from 2018.

Apple is LG Display’s biggest customer, accounting for about 25 percent of sales.

South Korean rival Samsung Display Co. currently dominates the market for smartphone Oleds, mainly supplying the ultra-thin screens to parent Samsung Electronics Co. and to Chinese smartphone makers

LG V10 Will Not Launch in Canada

LG V10

Back in October, LG announced the V10 smartphone, which is equipped with a 2.1-inch secondary display which sits on top of the main display. The handset is already in the US as well as the company’s home market.

If you’re based in Canada, there’s some bad news for you. LG V10 will not hit the retail shelves in the country any time soon.

The company’s representative said in response to a post on the company’s official Facebook page, “Unfortunately, there aren’t any plans to bring the V10 to Canada. We encourage you to check out some of other amazing phones, like our flagship LG G4.”

The LG V10 is equipped with a 5.7-inch display sporting a resolution of 2560 by 1440 pixels, as well as a 2.1-inch display above it. The handset is powered by a Qualcomm Snapdragon 808 processor paired with 4GB of RAM and 64GB of expandable storage.

Other features includes a 16MP camera for photos and videos, 5MP front-facing camera, a massive 3,000 mAh battery and ships with Android 5.1.1 Lollipop as its operating system.

LG Display to Invest $8.7 Billion in New Oled Plant in South Korea

South Korea’s LG Display said Friday it planned to invest close to $9 billion (roughly Rs. 59,969 crores) in a new plant to produce organic light-emitting diode (Oled) displays, anticipating a surge in demand for the ultra high-definition technology.

Total investment in the plant, to be built in Paju near the border with North Korea, is expected to top KRW 10 trillion (roughly Rs. 58,036 crores), the company said.

Expenditure in the first stage has been set at KRW 1.84 trillion, with production scheduled to begin in the first half of 2018.

LG Display CEO Han Sang-Beom hailed what he called an “historical investment” that would make the plant the “centre of the global Oled industry.”

Oled screens deliver a more vivid picture quality, consume less electricity and promise wider profit margins than the liquid crystal display (LCD) in common use.

LG Display is currently the world’s largest LCD panel producer but has been signalling a major shift to the more advanced Oled technology for some time.

Citing market research firm IHS, the company said the global Oled panel market was forecast to grow to $29.1 billion (roughly Rs. 1,93,900 crores) in 2022 from $8.7 billion last year.

Much of the growth could be fuelled by reports that Apple plans to adopt Oled screens on its iPhone from 2018.

Apple is LG Display’s biggest customer, accounting for about 25 percent of sales.

South Korean rival Samsung Display Co. currently dominates the market for smartphone Oleds, mainly supplying the ultra-thin screens to parent Samsung Electronics Co. and to Chinese smartphone makers.