LG Display acquires LG Chem's OLED lighting business

LG Chem announced that it has sold its OLED lighting business to LG Display, for 160 billion Won (a little over $142 million USD). LG decided that LG Display will be in charge of all OLED-based products while LG chem will focus on high-end materials (including OLED materials) and batteries. The idea is that consolidating the OLED production of both displays and lighting in the same company will enable LG to advance OLED lighting more quickly - and at a lower cost.

LG Chem is developing and producing OLED lighting panels, including the world's first truly-bendable panels (a few days ago they announced 406x60 mm plastic-based bendable panels), and is one of the clear leaders in the OLED lighting industry. The deal is set to take plan on December 15th, 2015.

LG Chem has been discussing a Gen-5 OLED lighting production line since 2012, and according to some reports the company is planning to construct a new $185 million production line for OLED lighting by 2017. The OLED Association speculated that following this OLED business merger LG Display may opt to convert its existing Gen-4.5 OLED display fab to OLED lighting production.

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Posted: Oct 19,2015 by Ron Mertens

Comments

Is this really good news for the OLED Lighting Market? How probable is it that the advances in OLED Lighting will really be more quickly and at a lower cost since the Display market is so much bigger an lucrative for LG ?