LG Display is starting to mass-produce OLED panels at its plant in Guangzhou, China.
LG Display announced on July 23 that it has started a mass-production system after holding a mass-production ceremony at an 8.5th generation OLED panel plant located in Guangzhou, Guangdong, China.
"Large OLEDs are a key pillar of LG Display's future growth," said CEO Chung Ho-young of LG Display at the shipping ceremony. "With the full-scale operation of its new plant in Guangzhou, we will accelerate both quantitative and qualitative growth of its large OLED business."
Major executives and employees attended the shipping ceremony, including LG Display CEO Chung Ho-young, CPO Vice President Shin Sang-moon, Management Support Group Vice President Yang Jae-hoon, and China CO Corporation Managing Executive Park Yoo-seok.
As LG Display, which produces the world's only large OLED panels, is starting to mass-produce 60,000 OLED panels per month based on original glass, it will have production capacity of 130,000 OLED panels per month in addition to its mass-production capacity of 70,000 OLED panels per month that are currently being produced in Paju.
Guangzhou OLED plant is a new large OLED plant and has high efficiency and productivity, making it more advantageous for production of ultra-large and high value-added products.
The factory is planning to produce large OLEDs with high resolution of 48, 55, 65, and 77 inches as their main products and is planning to expand its production capacity from 60,000 sheets per month to 90,000 sheets per month due to increased demands from markets.
By maximizing production capacity of Paju and Guangzhou, LG Display is able to produce more than 10 million OLED TV panels (55-inch) per year.
It is also planning to strengthen the 'large OLED trend' in premium TV markets in the future as the establishment of two major production bases for large OLEDs is completed in Paju and Guangzhou.
According to market research firm Omdia, shipments of OLED TV panels are expected to surpass 12 million units by 2025 through continuous growth every year from 4.4 million units in 2020.
Meanwhile, among global TV manufacturers, OLED camps are continuously increasing. Starting with LG Electronics in 2013, companies such as Skyworth, Konka, Changhong, Sony, Toshiba, Panasonic, Philips are producing OLED TVs.
In particular, four more companies, U.S. Vizio, Japan's Sharp, China's Huawei, and Xiaomi, have joined the OLED camp this year.
