“LG Display Co. will invest more than $600 million to build a new production line that will mass produce thinner and more energy efficient displays for televisions in its attempt to gain an edge against rival Samsung Electronics Co.,” Min-Jeong Lee reports for The Wall Street Journal.
“The world’s largest flat-screen maker, which counts Apple Inc. and LG Electronics Inc. as clients, said in a filing the new line will produce large organic light emitting diode, or OLED, panels at an existing plant in Paju, a city north of Seoul,” Lee reports. “LG Display said it will invest 706 billion won ($656.7 million) until June 30 next year to install the production line and begin mass production by then.”
Lee reports, “LG’s production line for OLED panels will have a capacity to process 26,000 motherglass sheets a month that are big enough to make six 55-inch screens per sheet, according to the company… LG Electronics, which holds a 38% stake in LG Display, beat Samsung in launching a 55-inch OLED TV in January. The TVs were introduced with a price tag of more than $10,000, two or three times the price of equivalent size LCD TVs.”
Read more in the full article here.
MacDailyNews Note: Today is Washington’s Birthday in the U.S.A., a federal holiday and, as such, the U.S. markets are closed for the day. We will resume our normal posting schedule tomorrow.