[CES 2020] LG Display vows to expand OLED production through assembly line restructuring
LAS VEGAS, AJU - LG Display, a major flat panel maker in South Korea, vowed to expand the production of large organic light-emitting diode panels and plastic OLED (POLED) panels through the restructuring of assembly lines as its profitability fell mainly due to a low-priced offensive by Chinese companies in the global LCD market.
LG Display CEO Jeong Ho-young said at CES 2020 in Las Vegas that his company would focus all of its capabilities to nurture large OLEDs as future growth engines. He said the portion of OLEDs in total flat-panel production would increase from 10 percent in 2019 to 20 percent this year and 30 percent n two or three years.
He also promised to increase the competitiveness of LG Display's POLED business as a technological advance in electric and self-driving vehicles increases the importance of interior design and the need for differentiated products. POLED for smartphones and cars is an OLED built on polyimide circuit boards and could be bent or rolled up.
LG Display has been hit by weak demands that have eroded LG Display's corporate earnings this year, but the company went ahead with an aggressive investment to boost its production capacity and increase its share in premium TV panels.