[Aju News DB]
South Korea's LG Display said Thursday that it will build a new production plant to produce organic light-emitting diode (OLED) panels for its lighting business, as part of efforts to maintain its status in the fast-growing but competitive display market.
LG Display said in a statement the new plant to be built in the southern industrial city of Gumi will begin mass production in the first half of 2017. It will have a monthly capacity of 15,000 sheets.
Market researcher UBI Research says the OLED light market will grow to 1.6 billion US dollars in 2020 from $135 million this year.
Due to competition, LG Display has struggled to create new revenue sources for its panel business which focused on televisions and mobile devices.
China has been working hard to strengthen its display technology while South Korean firms have invested heavily in ultra-high definition or OLED panels.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
![[CES2024] LG Electronics to showcase wireless transparent OLED TV for first time at CES](https://image.ajunews.com/content/image/2024/01/08/20240108155434102725.jpg)
