November 21, 2024

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[THE INVESTOR] LG Display said on July 25 it has decided to produce OLED TV panels at its Guangzhou plant in China with initial funding worth more than 1 trillion won (US$870 million). 

The announcement comes after the plans won approval at board meeting in the day. 

This would be the first time for the company to produce OLED panels overseas.

LG Display had planned to produce OLED TV panels at its latest P10 plant in Paju, Gyeonggi Province, but the plans seems to have been revised to beef up production of mobile OLED whose demand is soaring amid a near monopoly of its crosstown rival Samsung Display.

Considering the huge initial investments for mobile OLED, sources say the display maker may have decided to reduce costs for production of OLED TV panels. China offers tax benefits to local manufacturers.

LG Display is mulling to start 65-inch plus OLED panels at the Chinese plant possibly from later next year. The plant currently produces 8.5th-generation LCD panels.

By Lee Ji-yoon (jylee@heraldcorp.com)