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LG Display set $3.5 billion to build OLED smartphone factory

Tinuku ~ LG Display is preparing a US$3.5 billion investment to build a new OLED plant. The production of OLED smartphone panels is considered to be a very lucrative business and LG Display as one of the screen manufacturers wants to pursue Samsung which currently dominates the world's OLED smartphone market.

Tinuku LG Display set $3.5 billion to build OLED smartphone factory

A report says LG Display plans to heavily investment to build an OLED production plant for smartphones.

Funds that have been set up initially to build OLED TV panel production plants, but smartphone manufacturers' orders are increasing and plans are being revamped.

LG is said to have set aside US$3.5 billion for the plant and the construction phase is scheduled for completion in the second quarter of 2018 and will maximize production capacity thereafter.

The company also plans to increase production capacity of the display in two existing manufacturing lines in the hope of producing 120 thousand units per month before 2020.

One of the main reasons for the expansion of LG Display is to lure Apple as a client who is rumored to be planning to use the OLED screen for the latest iPhone later.

So far, Samsung is the only manufacturer that can fulfill large orders from Apple. Samsung reportedly has signed a two-year deal worth US$9 billion to produce and supply OLED screens.

LG Display is known as the world's largest LCD panel maker and one of the leading suppliers of thin-film liquid crystal display displays of TFT-LCD LCDs, OLEDs and flexible displays.

Headquartered in Seoul, South Korea, and currently operates nine fabrication facilities and seven back-end assembly facilities in South Korea, China, Poland and Mexico.
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