LG’s 55-inch OLED-TV will be released in South Korea in a few days – but the price remains high. Now, LG will invest $655 million USD in a new mass production facility to bring down prices. It is a so-called 8. generation plant, confirms LG.
LG invests $655 million in OLED-TV plant
LG has announced that they will build a new OLED-TV factory in South Korea. The project is a so-called 8G (eighth generation) plant that can produce 26,000 substrates per month; each of which can be cut into six 55” OLED-TV panels. That puts monthly production at around 156,000 OLED-TVs (if the yield rate is 100 %) but production will increase over time.
Most LCD panels are also produced at 8 or 8.5G plants today.
LG’s 55-inch OLED-TV is available in a few days in South Korea but LG has grander plans for 2014
Construction of the OLED plant will be initiated sometime in Q1 2013 and is expected to be completed in the first half of 2014. LG.Display will invest 706 billion Korean Won - or around $655 million USD.
LG and Samsung are racing to get a head start in OLED technology and production as OLED is considered the next big step for the display industry. LG was first to market with an OLED-TV and so far 100 Koreans have pre-ordered the crazy-expensive $10,000 OLED-TV.
When LG’s 8G OLED plant gets into full swing production costs should fall drastically, so we expect that LG will be able to release more moderately priced OLED-TVs starting next year.