LGD Announces $7 Billion US$ OLED New Investment: 10.5 Paju, Guangzhou 8.5 Generation Line

LG Display (LGD) announced its second-quarter results a few days ago. Its revenue increased 13% from 2016 to 6.63 trillion won (about US$6 billion), and its net income reached 737 billion won (approximately US$660 million). Among them, TV panel business accounted for 46% of LGD revenue, mobile devices accounted for 22%, desktop monitors, tablet PCs and notebook screens accounted for the rest.

At a recent board meeting, LGD also detailed the OLED investment path. First, LGD decided to build a 10.5-generation (2940×3370mm) OLED production line at its upcoming P10 plant in Paju. LGD decided to invest 2.8 trillion won (approximately 2.5 billion U.S. dollars) in its upfront investment. The entire plant needs more investment, but LGD said it will take a prudent approach - only after the technology of these oversized substrates is stable will it begin mass production of OLED TVs.

The second new investment in LGD is the new 6-generation flexible OLED production line in Paju. The new line will have a monthly production capacity of 30,000 substrates, which will enable LGD's total monthly production capacity to reach 65,000 units (including LGD's current E2 test 4.5 generation line and 6th generation E5 line in Gumi, and the 6th generation E6 line in future Paju ). Once E2, E5, E6 and the new line reach volume production, LGD's annual production capacity will be enough to reach 120 million 6-inch screens.

These investments are at the top of the previously announced OLED-related investments. By 2020, LGD's total investment will reach 15 trillion won, which will be nearly 13.5 billion US dollars. By 2020, Paju will become the main OLED production center for LGD.

In addition to the above investment, LGD also decided to build a 8.5 generation (2200×2500) OLED production line in Guangzhou, China, for the manufacture of OLED TV panels. The plant will be a joint venture with a local company (LGD undisclosed) and LGD holds 70% of the shares. The total cost of the plant will reach 2.6 trillion won (about 2.3 billion US dollars). LGD hopes to be closer to the Chinese market, the world's largest TV market, and this is the first time South Korean companies have produced OLEDs outside Korea.

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