LG Display Co. plans to increase its organic light-emitting diode (OLED) TV panel sales in China by seven times within three years.
The company held a “OLED Big Bang Media Day” at Mee Park in Beijing’s 798 Art Zone on Sept. 19. It invited officials from TV manufacturers, including Skyworth, Hisense, Konka, Changhong, Sony and Philips; large distributors, including Suning, Gome and JingDong; and some 50 local media outlets in Beijing and Tianjin.
LG Display has been carrying out promotional activities for media, TV producers, distribution companies and consumers in not only big cities, such as Beijing and Guangzhou, but also small and medium-sized ones, to introduce the excellence of the company’s OLED technology through exhibitions and forums.
At the event, Oh Chang-ho, executive vice president of the TV business division at LG Display, said, “China is entering the OLED era as LG Display’s 8.5th generation OLED plant in Guangzhou has started full-scale operation.”
LG Display held a ceremony to mark the completion of its OLED plant in Guangzhou at the end of August. The plant is currently processing 60,000 glass substrates per month to produce large OLED display panels with high resolution. It will process 90,000 sheets per month by 2021.
Ahn Seung-mo, vice president of the promotion division at LG Display, announced that the company’s goal is to expand China’s large OLED panel market from around 300,000 units this year to 1 million units by 2020 and 2 million units by 2021.
China’s share in the global OLED TV market was 6.5 percent in 2018, but is expected to more than double to 14 percent in 2022, according to market researcher IHS.―Business Korea