LG Display’s large-panel production hits 1.5b mark

LG Display, Korea’s top display-maker, said Thursday that its production of large LCD and OLED panels has hit the 1.5 billion mark for the first time within the industry.

The new milestone comes after the company started producing large LCD panels back in 1995, the company said.

Large panels, those 9.1 inches or larger, are used for computer monitors, laptop computer screens and TVs. The 1.5 billion units are equivalent to 236,793,391 square meters of panels, the company said.

“LG Display has continued investments in a strategic and timely manner even at a time of economic crisis. Thanks to that, we have maintained stable production and introduced new technologies to the market,” said LG Display CEO Han Sang-beom.

The company has focused about 3 trillion won ($2.6 billion) every year to strengthen its market leadership.

In China, the company started operation of a new Guangzhou plant in July last year with aims to double the current production capacity of 60,000 units per month by next year.

The company also plans to increase the production capacity of its Paju, Gyeonggi Province, plant to 26,000 panels by the end of this year.

According to market search firms DisplaySearch, LG Display has maintained its No. 1 position in large-panel shipments since 2009. Its global market share in the first quarter was 23.9 percent.

By Lee Ji-yoon (jylee@heraldcorp.com)