LG Display to Invest Massively in OLED Panels
24 July, 2019
LG Display on Tuesday announced a massive investment plan to boost its OLED panel business.
The company said it will spend another W3 trillion to expand production lines for large OLED panels at its plant in Paju, Gyeonggi Province (US$1=W1,180). It already spent W1.84 trillion in 2015 and W2.8 trillion in 2017.
The announcement came the same day the company reported dismal earnings for the second quarter this year with a W368.7 billion operating loss and sales falling five percent to W5.35 trillion on-year.
LG chairman Koo Kwang-mo is determined to seize opportunities for future growth, and OLED panels are seen as a game changer in the display industry as they are thinner, lighter, brighter and more flexible than LCD panels.
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