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LG looks to OLED to turn around business

by on15 August 2018

I see a red door but I want to paint it perfect black

LG display wants to turn around its slowing big screen business by capitalising on increasing global demand for its large-sized OLED panels.

The company said 1.3 million OLED panels were sold in the January-June period, more than double the 600,000 during the same period a year earlier.

LG Group's display business unit said its sales rose evenly among different sizes: 55-inch, 65-inch and 77-inch panels, exerting huge influence in the premium TV market.

In the first half of the year, the company posted an operating loss amid falling global prices for liquid crystal display (LCD) panels and intensifying competition.

But the company is expected to make profits soon as global demand for OLED panels has been increasing, with global TV makers competitively releasing OLED TVs.

LG Display, the world's sole large-sized OLED panel maker, said OLED TVs can produce "perfect black" to offer a limitless contrast ratio, which LCD TVs could never realize.

The company is aiming at producing four million panels next year, seven million in 2020 and 10 million in 2021.

LG said it is concentrating all of its capabilities on nurturing its OLED business as its new growth engine.

"A number of global TV brands have recognized distinguished value of OLED panels and have selected them. Based on this, OLED TVs are leading the growth of the premium TV market", said Hwang Yong-kee who leads the firm's TV business. "LG Display will take the leadership in the TV market by developing distinguished products and making active investments to respond effectively to rising demand."



Last modified on 15 August 2018
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