LG Display is speeding up its process of making OLED TV a trend in China, the world's largest TV market. It is planning to expand the OLED TV market with its local partners in China.
LG Display made an announcement on March 15 that it invited 140 TV manufacturers such as LG Electronics, Skyworth, Kongka, Sony and Philips and distributors such as Suning and JD.com to hold the "2019 OLED Partners' Day."
"As OLEDs have grown greatly globally this year, a true era of OLEDs will come, and China will be at the center of this year," said LG Display Vice President Oh Chang-ho.
The Chinese TV market is the largest in the world. It is also predicted that it will play an important role in expanding the OLED TV market due to high acceptance of high-tech technologies. Market research company called IHS Market is estimating that the Chinese OLED TV market will grow at the fastest rate this year, with about 70% increase from the previous year.
If LG Display starts operating its 8.5th generation OLED plant in Guangzhou starting from the second half of this year, output of panels will increase from 70,000 panels per month to 130,000 panels. Major Chinese TV manufacturers such as Hisense and Skyworth will be able to receive more stable supply of panels and close support.
"China will be the second major base for producing OLED panels," said Vice President Oh. "We are going to introduce top-notch OLED products in China with our customers to advance the trend of OLEDs."