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LG Display doubles sales of large-sized OLED panels in first half

09:34 August 15, 2018

SEOUL, Aug. 15 (Yonhap) -- LG Display Co. said Wednesday its shipments of large-sized OLED panels rose sharply in the first six months of 2018 from a year earlier, raising the prospect of posting a net profit in that business soon.

The display maker said it sold 1.3 million units of large-sized OLED panels in the January-June period, jumping from 600,000 units posted a year earlier. LG said the sales rose among different sizes, from 55-inch to 77-inch panels.

The company said the increase came as major TV manufacturers, including LG Electronics Inc. and Japan's Sony Corp., expanded production of OLED TVs.

LG Display, which is the leading player in the production of large-sized OLED panels, said it plans to continue to move past other panel makers on the back of its top-notch technological capabilities.

"We expect to post a net profit in the large-sized OLED segment for the first time in the second half of this year," the company said.

LG Display said the completion of its new production line in China, which is scheduled for the second half of 2019, is expected to improve the company's monthly production capacity to 130,000 sheets from the current 70,000 sheets. A sheet is capable of producing six units of 55-inch panels.

"Numerous global TV brands are adopting OLED displays as they acknowledge the distinctive value of OLED," LG Display said, claiming the company will continue to make investment to meet with the rising demand in the market.

LG Display doubles sales of large-sized OLED panels in first half - 1

colin@yna.co.kr
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