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LG Display looks to Chinese OLED market

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Published : 2014-06-26 21:03
Updated : 2014-06-26 21:03

The chief executive of LG Display has said the company would focus on panels for OLED TVs in the second half of this year, and it is expecting to expand its presence in the Chinese TV market.

“OLED can be the next generation panel for TVs due to its high definition, curvedness and light weight,” LG Display CEO Han Sang-beom told reporters at the company’s plant in Paju on Wednesday.

LG Display plans to produce 34,000 sheets per month for ultrahigh-definition OLED TVs in the second half of this year. The company recently made a $690 million investment in its M2 production line in Paju, in addition to the existing M1 production line, in order to become capable of such production capacities.

To boost its OLED panel sales, the company is hoping to sell more to China, which has grown into the largest TV market. 
LG Display CEO Han Sang-beom

“China will become the key to deciding the future of OLED TVs. We are in talks with major Chinese consumer electronics companies including Skyworth, Konka and Changhong to supply OLED TV panels,” Han said.

LG Display is currently supplying panels in small quantities to the companies, and it aims to increase the quantity later this year. The company is also slated to launch joint marketing campaigns with the Chinese companies taking aim at the country’s national day in October.

China has grown into the largest TV market, surpassing the United States in 2011. Its flat TV sales posted $24.7 billion last year, accounting for 29.4 percent in the global TV market, according to the company.

By Shin Ji-hye (shinjh@heraldcorp.com)

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