LG Display plans to invest 1.5 trillion won to build a new flexible OLED panel production line in Gumi in North Gyeongsang Province.
This move is part of an effort to cope with the increasing demand from new markets such as curved smartphones, wearable devices, and automotive displays.
LG Display signed a memorandum with the Gumi city government and the North Gyeongsang provincial government to build a 6G (1850 x 1500 mm) flexible OLED production line in Gumi.
The investment will begin from the third quarter of this year and the construction is scheduled to be completed by the second quarter of 2017.
LG Display’s decision to invest more than 1 trillion won in flexible OLED is in line with its effort to develop its future growth engine. The flexible OLED market is growing at a rapid pace as the applications of flexible OLED for smartphones and smart watches are expanding.
Once the new production line is ready, LG Display plans to churn out 7,500 pieces of 6G flexible OLED panels a month.