LG Display to add 1 tln won to OLED panel line

LG Display Co., a global panel maker, plans to spend an additional 1 trillion won ($915 million) this year on its large-sized organic light-emitting diode panel production line in South Korea to meet growing demand, industry sources said Wednesday.
  

LG Display has already spent 800 billion won on the OLED panel production line, which produces panels for TVs, the sources said.  
  

LG Display is told to have commenced production at the production line starting November 2014, but the detailed capacity has not yet been revealed.
  

The company aims to expand its monthly production of the eighth-generation OLED input sheets to 26,000 units at the line in Paju, just west of Seoul.
  

When combined with its existing line, LG Display's combined monthly production of OLED input sheets will reach 34,000 units, the sources said.
  

LG earlier said it will target the high-end TV market on the back of 77, 65 and 55-inch Ultra OLED models.  
  

The OLED technology, more advanced than LCD since it produces light without the backlight unit, is seen as the company's future growth engine.
  

Its high cost, a major drag for OLEDs, is expected to decline further as LG Display, the biggest OLED manufacturer in the world, will likely increase production of the high value-added component.
  

Samsung Display Co. also has been making an investment of 4 trillion won since last year on its new OLED plant under construction in Asan, about 95 kilometers south of Seoul, which will be used in its wearable devices and tablet PCs. (Yonhap)