|LG Turns To China To Secure OLED TV Future|
South Korea’s trade ministry has formally approved proposals by LG to start manufacturing OLED panels in China.
LG Display Co Ltd, which makes the OLED panels used in OLED TVs produced by LG Electronics and a growing number of other brands, had stated five months ago that it was intending to invest around 5 trillion South Korean won (US$4.5 billion) in a large-scale OLED production facility in China’s Guangzhou province.
Now that this decision has been ratified (as reported by Reuters) by a trade ministry commission in LG Display Co. Ltd’s home country, the China-based production facility is expected to come online by the second quarter of 2019. And once it does, its impact on the OLED TV market will be massive.
According to Business Korea, LG Display claims that the new facility will be capable of producing around 60,000 8.5-generation OLED panels a month. This would essentially instantly double the amount of OLED panels available to TV manufacturers each month, making it much easier to meet the surge in demand for OLED TVs many AV industry analysts are predicting over the next few years.
The surge in production may also lead to a further reduction in OLED TV pricing, following the drops this year that have joined greatly improved picture performance in making OLED 2017’s biggest TV success story.
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