Regarding the great demand for OLED display, nowadays the Korean tech giant LG has taken a big step to widely producing this display for the tech market. Recently, the company has announced that after the next three years LG would be investing 7.8 trillion Korean won, meaning $7 billion, to produce OLED displays which the company believes will fill the future demand in the market.
According to the company, this giant amount would be spent in two steps as around $2.5 billion for developing a new line of larger OLED screens which would be used for TVs whereas the rest, $4.5 billion, for another line of devices like smartphones, laptops, watches. However, LG’s target is to boost its domestic production facilities in 2019 at the northwest of Seoul in Paju.
Dr. Sang-Beom Han the CEO and Vice the Chairman of LG Display said in short that “”We’re clearly seeing the possibilities the OLED business offers, not only in the global TV segment, but also in the smartphone and automotive markets. We plan to actively respond to customers’ demands by expanding OLED capacity in a timely manner and developing diversified flexible displays that are fit for various applications.”