This month, LG Display began production at its 8.5th-generation OLED manufacturing facility in Guangzhou, China. When fully ramped up, the total capacity of the factory will be 90,000 substrates per month. The plant will produce 55, 65 and 77-inch high-resolution panels for television. In fact, LG aims to produce 10 million large-size OLED panels per year by 2022, meaning more than double its current production.
The new 8.5G OLED panel plant is a nine-level building above ground that occupies 74,000 square meters of land and provides 427,000 square meters of floor space. The initial capacity of the manufacturing facility will be 60,000 2200 × 2500 mm substrate per month, which will be expanded to 90,000 sheets per month by 2021. The factory will be operated by LG Display Hi-Tech China, a joint venture between LG Display and Guangzhou. Development District, which holds a 70% stake (with ~ $ 2,150 billion in capital) in the East.
Facing cut-throat competition from various manufacturers of liquid crystal displays, LG Display has recently set a strategic goal to increase production of large OLED panels to serve more attractive and growing market segments. LGD says it sold 2.9 million large OLED panels in 2018 and expects to sell 3.8 million larger panels this year, which will turn the business into profitability. Citing market researchers, the manufacturer says that demand for OLED TVs and panels is increasing and to that end, it makes a great sense to invest in OLED plants.
Right now, LG makes 70,000 8.5G OLED substrates at its plant near Paju, South Korea. The company is building a 10.5-generation OLED plant near Paju, which when ready in 2022, will produce 45,000 2940 × 3370 mm of substrate per month. Combined, LGD will manufacture 160,000 8.5G OLED substrate and 45,000 10.5G OLED sheets a month. 2022. The company hopes that its expanded manufacturing capacity will enable it to produce 10 million large OLED panels per year by 2022.
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