LG Display made an announcement on August 16th that it sold more than 1.3 million OLED displays in the first half of this year. This is more than double of sales compared to the same period last year, which sold only 600,000 units. As sales of 55-inch, 65-inch, and 77-inch panels that are being produce by LG Display have increased, it is causing changes in the Premium TV markets.
Demand for OLED panels is surging because global TV companies are joining the OLED TV panels continuously by recognizing the value of OLED panels.
Starting with LG Electronics in 2013, major companies such as Sony, Toshiba, Panasonic, Europe’s Philips, Groon Dick, Rojve, Mets, Vestel, and Bang & Olsen are producing OLED TVs. It is said that HiSense is joining the company in 2018 and is about to release its products.
OLED expresses its most complete ‘Black’ and boasts infinite ratio of light and dark that LCDs can never implement. In addition, OLED is considered the best display in terms of overall quality, including rich and accurate color representation and response speed of 1,000 times faster than LCDs.
LG Display, the world’s only manufacturer of large OLED panels, has selected OLED as a game changer that will change market status in order to maintain its competitive edge in the display business and is nurturing it as a future growth engine
Its strategy is to change the dynamics of future display markets through OLED based on technical advantages and innovative design possibilities of OLED.
In particular, due to the high barriers to entry of OLED technology, only South Korea companies have been able to enter the mass production stage; therefore, LG Display plans to open up the gap with its competitors.
LG Display completed a 10-year golden yield of LCDs in just three years, based on the establishment of a complete system from OLED development to production and sales.
The sales volume, which was just 200,000 units in 2013, exceeded 1,7 million units in 2017 and is expected to reach 2.9 million units this year. LG Display is expected to recod a surplus for the first time in its large-sized OLED panel business in the second quarter of this year, driven by large OLED sales volume growth.
