LG Electronics reported their financial results for Q4 2013 and the Korean company doubled its operating profits compared to last year. LG reports a good quarter in its TV business, but the mobile unit reported a loss (partly blamed on marketing spending) even though they sold 13.2 million phones which is 50% higher than in Q3 2012.
Regarding OLEDs, LG says that they expect the OLED TV market to pick up from 2014, "gradually becoming the main growth driver of the display business and replacing the LED TV market". The company plans to extend the distribution network and to strengthen regionally differentiated marketing activities in order to increase sales of OLED TVs in 2014.
We already know that LG thinks that 2014 will mark the beginning of a "rapid shift" to new 4K and OLED technologies. Earlier this month LG estimated that global OLED TV sales will reach 30,000 to 50,000 in 2014. LGD's Gen-8 OLED fab should begin producing panels in the second half of 2014 with a monthly capacity of 26,000 subtrates - or about 150,000 55" OLED TVs.