LG Display recently announced plans to build a new plant for the production of organic light emitting diode displays. Moreover, until 2018, the South Korean company is going to invest in OLED-business to 10 trillion won ($ 8.45 billion).
Allocated amount will be focused on the development of large OLED-screens and flexible displays for smart phones and handheld gadgets. Part of the funds will be used to create solutions based on automotive technology OLED and LCD-panels for premium TVs.
This year, LG Display shares have fallen by 34%, this is due to the reduction in demand for LCD-displays and the growing competition from Chinese manufacturers. It is not surprising that the company has high hopes for the growing OLED market and is doing everything to secure the segment in a perspective.
In the meantime, investors and market experts are not sure that the LG will be able to reduce the cost of OLED-TVs up to the level at which new technology will become truly mass.