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Company News >> LGD strategic shift, next year OLED TV panel revenue will exceed LCD for the first time

On October 12, LG Display is accelerating its transition from LCD panels to OLED panels, as LCD prices continue to fall and the profitability of its LCD business is deteriorating.

 

According to data released by IHS Markit on October 9, LG Display's OLED sales accounted for only 17% of total sales this year. The company suffered losses for two consecutive quarters, with a loss of 500 billion won (41869 million US dollars) in the first half of the year. LG Display has been restructuring its LCD business recently.

 

It is expected that from next year, with the rapid growth of the OLED sales ratio, the company's profitability will increase. LG Display plans to close its LCD production line and expand OLED production. The company's 8.5-generation OLED production line in Guangzhou, China began mass production of OLED panels in August.

 

In July, the company announced a plan to invest 3 trillion won (approximately 17.9 billion yuan) in the 10.5-generation OLED production line in Paju. Therefore, it is expected that LG Display's OLED sales will increase to 29%. In particular, due to the start of operation of the 8.5-generation OLED production line in Guangzhou, next year’s sales will exceed LCD panels.

 

According to IHS Markit, LG Display’s sales of LCD TV panels and OLED TV panels this year are estimated to be 6.20 billion US dollars and 2.80 billion US dollars, respectively. But next year's sales of OLED TV panels will reach 4.5 billion US dollars, surpassing the 3.09 billion US dollars of LCD panels. The company is expected to increase the proportion of OLED sales to 41% by 2022 and 49% by 2024.

 

The rebound in LCD prices will also help LG Display switch to the OLED business and improve performance. If the LCD business continues to slump, LG Display's plan to switch to the OLED business may also be delayed.

 

Not only LG Display, Samsung Display will also close its LCD business and focus on the OLED business. The proportion of Samsung Display's OLED sales is expected to increase from 73% in 2018 to 93% in 2024.

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