LG Display CEO reveals that it will expand OLED panel production capacity to supply car and aircraft manufacturers
[ Electrical and Electrical
According to foreign media reports, LG's panel company LG has shown that its performance in 2019 is not satisfactory, with losses in the first three quarters in a row, and the annual loss is expected to reach a record 1 trillion won.
In order to reverse the unfavorable situation of continued losses, LG has started to make corresponding adjustments in the third quarter of last year. CEO Jeong Ho-young, who took office in September, is pinning his hopes on OLED panels to get out of the plight of continuing losses. Expand production capacity of OLED panels.
Zheng Haoyong was at a press conference before the 2020 International Consumer Electronics Show in Las Vegas, revealing that they will expand the production capacity of OLED panels.
LG Display plans to improve its profitability by expanding the production capacity of OLED panels because they believe that demand for OLED panels is increasing in areas such as transportation and interior.
Zheng Haoyong said at the press conference that the sales volume of OLED panels in the transportation field including aircraft and automobiles can account for 30% of the total sales of OLED panels, and automobile and aircraft manufacturers have also shown interest in using OLED panels. This is a fast-growing field with huge development potential.
LG Display has also begun to expand their business in the transportation field. Zheng Haoyong revealed at the press conference that in January they have started to supply OLED panels to a global car manufacturer. Cars using OLED panels may be launched in the second quarter.
LG Display continued to lose money last year, mainly due to oversupply of global LCD panels and falling prices. LG began to make corresponding adjustments to LG Display last year. Zheng Haoyong, formerly the CEO of LG Chemicals, was transferred to LG during the adjustment last September. Show and serve as CEO.
In the context of oversupply of LCD panels and falling prices, LG Display has also begun to turn its attention to the OLED field. They have announced that they will stop producing LCD TV panels in South Korea by the end of this year. Factory production, but they have no plans to switch South Korea's LCD TV panel production line to OLED.