By BizLED Bureau
Nov 28, 2015: LG Display has announced to invest US $ 1.60 billion for a new panel plant in Paju, Gyeonggi Province, Korea. The company decided on the new plant P10 because of anticipated demand for OLED panels over the next few years. This plant will mainly produce large-size OLED TV panels as well as flexible OLED panels for smartwatches and automotive displays.
The investment covers the construction of the building, foundations for the clean rooms and infrastructure for water and power supplies. The completed plant will cover an area of 382m x 265m and will be 100 meters high. Plans call mostly for the installation of large size OLED lines that will be ninth generation or above along with flexible OLED lines at the new plant. The first production line is expected to start mass production by mid 2018.
The company expects the lines to produce OLED in every product segment, including ultra large-size products as well as future products such as flexible and transparent displays.
Market research firm IHS forecasts the global OLED panel market to grow to US $29.1 billion in 2022 from $8.7 billion in 2014. Demand for flexible OLED panels in the smartwatch and automotive display sectors is increasing because they offer better design flexibility than LCD panels.