July 28, 2017: LG Display has confirmed that it will invest an additional $7 billion in the company’s plant to produce OLED panels for smartphones. Earlier it restricted itself in producing large-size OLED display for televisions, according to a The Wall Street Journal report. This initiative would challenge Samsung Display’s dominance in the OLED market, particularly in the smartphone market.
From $7 billion LG will use about two-third of the investment for small-size OLED panels dedicated for smartphones, and the rest for larger-size OLEDs.
According to IHS markit report, OLED market is growing and is expected to touch $25.2 billion in 2017. According to their research, the growth is concentrated in smaller-size OLED panels, which is currently being led by Samsung Display. While Samsung unit holds 97.1 per cent of the market share, LG’s monopoly is large-size OLED panels for television.
Currently, the smartphone industry has witnessed an increasing demand for OLED panels, as most manufacturers have shifted from LCD screens.