LG Display wants to produce 10M OLED TVs in 2021
Apr. 04, 2018 10:03 AM ETLG Display Co., Ltd. (LPL)LPLBy: Brandy Betz, SA News Editor22 Comments
- LG Display (NYSE:LPL) wants to produce 10M OLED TV panels in 2021, which is six times more than the 1.7M produced last year.
- OLED TV sales accounted for half of LG’s high-end segment (items costing $2K or more) in 2017 and the company forecasts growth to 70% of the segment this year.
- SVP Lee Sang-hoon to Nikkei Asian Review: “We will be able to produce 10 million, or 20 million OLED TV panels easily as consumers are willing to pay for better products. We plan to produce 2.8 million this year, and aim to reach 10 million by 2021.”
- To ramp up production capacity, LG Display plans to invest $18B in OLED technology in the next two years.
- Global TV makers using LG’s OLED panels in premium products include Sony, Panasonic, and parent company LG Electronics.
- LG Display shares are down 4.2% with the market slumping down due to the escalating US-China trade war.
- Previously: Tech stocks down as U.S., China reveal new tariffs (April 4)