November 22, 2024

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[ET NEWS] LG Display plans to invest about 4 trillion won (US$3.50 billion) into its new production plant, called P10, with aims to beef up production of OLED panels for smartphones, especially for the upcoming iPhone, industry sources told ET News on May 29.

Sources said the display maker had originally planned further investment for larger OLED for TVs but recently decided to pour more resources into mobile OLED considering the soaring demand from smartphone makers. 

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The new P10 plant in Paju, Gyeonggi Province, is scheduled to be completed by the second quarter next year. The company aims to elevate the production capacity to a monthly 60,000 units of the sixth-generation OLED sheets by 2019.

Along with the P10, the company also plans to produce more mobile OLED sheets at its current two production lines -- the E5 in Gumi, North Gyeongsang Province, and the E6 in Paju -- from as early as next month.

Following the planned expansion by 2019, the company’s production capacity is expected to surge to a monthly 120,000 units, almost half the capacity of Samsung Display, the market leader that dominates more than 95 percent of the mobile OLED market.

In the meantime, LG Display is also considering further investment for OLED for TVs. Sources say the company is likely to focus more on the Gen 8.5 OLED for now, rather than the latest Gen 10.5 considering related equipment and technologies have not yet been fully tested.

By Bae Ok-jin (withok@etnews.com) (jylee@heraldcorp.com)
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