LG Display sold more than 100 million displays for automobiles as of the first quarter of this year, reaching the figure 14 years after entering the auto business, the company said Thursday.
Since first starting to provide central information displays for global automakers in 2005, the Korean panel maker has seen rapid growth in the auto display business, hitting 10 million in 2011 and 50 million in 2015.
According to IHS Markit, LG has maintained the top spot in the market for automotive displays over 5 inches (12.7 centimeters) since the first quarter of 2017.
Forecasting that the automotive display market would grow even faster as information technology penetrates the autos sector, LG is gearing up by preparing more advanced technologies.
Setting a goal of reaching 2 trillion won ($1.76 billion) in sales by 2021, the company is planning to provide low-temperature polysilicon-based high-definition liquid crystal display panels and plastic organic light-emitting diode display panels for vehicles.
The company will start mass producing P-OLED panels for vehicles at its E5 line in Gumi, North Gyeongsang Province, within June in response to rising demand for flexible OLED in cars.
“In the era of future autonomous driving, the scope of display applications is expected to increase,” said a company executive. “The company will continue introducing innovative products like rollable and transparent display panels for cars.”
By Song Su-hyun (email@example.com