LG Display, the display panel manufacturing arm of LG Electronics of South Korea, said Tuesday that it has received the necessary approvals from the Chinese government for an OLED production joint venture in Guangzhou, China.
Under the arrangement, LG Display will control 70 percent of the $2.3 billion joint venture OLED panel production plant. The remaining 30 percent share will be owned by Guangzhou Economic and Technological Development District.
The total investment will be $4.9 billion. LG Display said it is currently constructing an 8.5th generation (2,200 x 2,500mm) OLED production facility. The start of mass production is planned for the second half of 2019, LG Display said.
The new OLED plant will feed the growing demand for 4K OLED televisions, particularly in China, the world’s largest market for 4K Ultra HD televisions. It also comes at time when rival display panel manufacturers are gearing up a spate of 10.5 Gen large-format LCD panel plants in the country, including some that will use quantum dot technologies designed to compete with many of the benefits of OLED picture quality.
The Guangzhou OLED plant is to primarily produce large-sized OLED panels for TVs. LG Display said it will start producing 60,000 input sheets per month and will gradually ramp up to a maximum of 90,000 sheets per month.
When added to 70,000 input sheets per month production capacity of the company’s plants in Paju, LG Display said its total capacity of large-sized OLED panels will reach 130,000 sheets per month by the second half of 2019.
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Of that LG Display plans to be able to ship up to 10 million 55-inch OLED TV panels per year.
“LG Display welcomes the approval from the Chinese government. We will try to speed up our construction and mass production schedules as much as we can by leveraging the expertise and experience from our previous 8.5th generation OLED plant in order to provide OLED panels to our customers in a timely manner,” stated Dr. Sang Beom Han, CEO and Vice Chairman of LG Display. “We will accelerate the transformation of our business structure to focus on OLEDs and will continually lead the global display industry.”
By Greg Tarr
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