LG Display plans to strongly ramp up its OLED production in the near future, announcing to The Korea Times that it intends to raise $971 million to expand its OLED business and increase its output of OLED displays of all sizes.
Samsung makes 5-year deal with LG Display for display panels
“The company is increasing the proportion of OLED products in all business areas, ranging from large, medium and small,” LG Display said in a statement to the publication. “From 2024, the large-scale area is expected to expand its customer base, and the medium-scale area plans to start mass production of OLED products for IT devices. In the small area, we expect the shipment volume to increase based on the expanded production capacity in 2023.”
WATCH: LG OLED Signature T transforms on the CES floor
LG Display revealed that it plans to use 622.2 billion Won (about $466 million USD) of the money it raises through capital increase to purchase raw materials for its expanding lines of OLED products. While the company has not officially commented, FlatpanelHD reports that LG Display is preparing to construct an 8.6G OLED factory that would output 7500-15000 mother glasses for OLED panels each month. If true, this comes shortly after similar announcements by Samsung and BOE on the construction of 8.6G OLED factories for vastly expanded production of panels.
