Dr. Sang-Beom Han, CEO/vice chairman of LG Display, says, “A paradigm shift to OLED represents both a challenge and an opportunity for the display industry. LG Display is determined to become the leader in the fast-growing OLED market through timely investments to maximize efficiency.”
The new production line, E6, will be installed at its P9 plant in Paju with KRW500 billion (US$450 million) already invested to build supporting infrastructure. The E6 line is scheduled to start mass production in the second half of 2018 and will produce 15,000 input sheets per month. In addition to this new line, LG Display already has a 4.5th-generation, flexible OLED display production line (E2) in Paju, and is building another new 6th-generation production line (E5) in Gumi, which was announced in July 2015.
LG Display announced in November 2015 that it planned to invest a total of more than KRW 10 trillion (US$9 billion) for the new P10 plant in Paju to produce mainly OLED displays including large-size OLED displays and flexible OLED displays. With the investment in P10, which is now under construction, and the expansion of the P9 facility, the company is laying a firm foundation to lead the next generation market for smartphones with its advanced OLED technology.
LG Display was the first to introduce the era of large-size OLED TVs with its world’s first 55-in. OLED TV display in January 2013. It also introduced the era of flexible OLED displays with the world’s first plastic substrate-based, 6-in. flexible OLED display for smartphones in October 2013 and the world’s first 1.3-in. circular flexible OLED display in September 2014.
According to IHS DisplaySearch, a global market research firm, the flexible OLED market is expected to grow rapidly with shipments increasing from US$59 million this year to US$416 million in 2020.