LG had already planned to invest significant sums in OLED in the next few years but the company is doubling down on the next-generation display technology. Approximately $8.5 billion USD will be invested in OLED by 2018, LG announced today.
TVs, wearables & other products
LG sees not long-term future for LCD and in a plan to compete with Samsung, Japanese, and Chinese companies, the display maker will focus on OLED. The next-generation technology can be used for displays that are paper-thin and flexible, which LG believes will be a game-changer.
- "We never underestimate the rise of Chinese rivals. They are scary as they receive huge support from their government. But we still have competitiveness," said Han Sang-beom, the head of LG Display.
At a press conference today, LG announced that its display division, LG Display, will invest 10 trillion won (approximately $8.5 billion USD) in OLED displays by 2018. That is a large increase over LGs previous commitment. The company intends to use OLED for premium TVs, wearables such as watches as well as signage and automotive use cases.
LG recently confirmed that its new larger plant for flexible OLED will be up and running by 2017. LG recently launched new 4K OLED TVs and more affordable OLED TVs will be launches next month at IFA. LGs OLED panels are also used in other existing products such as the Apple Watch.